The company reported standalone net profit of Rs 0.97 crore for the quarter ended March 31, 2023 as compared to Rs 1.79 crore in the same period last year, registering a year-on-year decline of 45.81 per cent.
Net revenue of the company declined substantially by 37.91 per cent at Rs 22.63 crore in January-March quarter of this fiscal as against Rs 36.45 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 52.39 per cent to Rs 15.64 crore from Rs 32.85 crore in year ago period.
Other Income dipped by 81.13 per cent at Rs 0.30 crore versus (Mar'22 Rs 1.59 crore).
Operating Profit surged by 94.17 per cent to Rs 6.99 crore as against Rs 3.60 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 212.77 per cent in March quarter.
Interest grew by 29.38 per cent y-o-y to Rs 2.51 crore, while Taxation increased by 154.17 per cent at Rs 0.61 crore (Mar'22 Rs 0.24 crore).