The company reported standalone net profit of Rs 2.67 crore for the quarter ended March 31, 2023 as compared to Rs 3.53 crore in the same period last year, registering a year-on-year decline of 24.36 per cent.
Net revenue of the company declined moderately by 7.08 per cent at Rs 14.17 crore in January-March quarter of this fiscal as against Rs 15.25 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 29.39 per cent to Rs 7.44 crore from Rs 5.75 crore in year ago period.
Other Income dipped by 220.00 per cent at Rs -0.06 crore versus (Mar'22 Rs 0.05 crore).
Operating Profit slipped by 18.70 per cent to Rs 7.74 crore as against Rs 9.52 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 12.51 per cent in March quarter.
Interest declined by 7.57 per cent y-o-y to Rs 4.03 crore, while Taxation decreased by 42.50 per cent at Rs 0.92 crore (Mar'22 Rs 1.60 crore).