The company reported standalone net profit of Rs 0.87 crore for the quarter ended March 31, 2023 as compared to Rs 4.75 crore in the same period last year, registering a year-on-year decline of 81.68 per cent.
Net revenue of the company declined substantially by 41.18 per cent at Rs 75.22 crore in January-March quarter of this fiscal as against Rs 127.88 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 41.63 per cent to Rs 68.24 crore from Rs 116.90 crore in year ago period.
Other Income grew by 13.98 per cent at Rs 1.06 crore versus (Mar'22 Rs 0.93 crore).
Operating Profit slipped by 36.37 per cent to Rs 6.98 crore as against Rs 10.97 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 8.16 per cent in March quarter.
Interest grew by 16.67 per cent y-o-y to Rs 2.03 crore, while Taxation decreased by 77.30 per cent at Rs 0.37 crore (Mar'22 Rs 1.63 crore).