The company reported standalone net profit of Rs 3.38 crore for the quarter ended March 31, 2024 as compared to Rs 6.63 crore in the same period last year, registering a year-on-year decline of 49.02 per cent.
Net revenue of the company declined marginally by 4.28 per cent at Rs 61.32 crore in January-March quarter of this fiscal as against Rs 64.06 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 1.44 per cent to Rs 57.80 crore from Rs 56.98 crore in year ago period.
Other Income dipped by 1.58 per cent at Rs 2.49 crore versus (Mar'23 Rs 2.53 crore).
Operating Profit slipped by 50.28 per cent to Rs 3.52 crore as against Rs 7.08 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 48.05 per cent in March quarter.
Interest declined by 90.08 per cent y-o-y to Rs 0.13 crore, while Taxation decreased by 21.77 per cent at Rs 1.15 crore (Mar'23 Rs 1.47 crore).