The company reported standalone net profit of Rs 28.81 crore for the quarter ended December 31, 2024 as compared to Rs 68.07 crore in the same period last year, registering a year-on-year decline of 57.68 per cent.

Net revenue of the company declined substantially by 45.14 per cent at Rs 421.43 crore in October-December quarter of this fiscal as against Rs 768.17 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 44.50 per cent to Rs 360.01 crore from Rs 648.68 crore in year ago period.

Other Income dipped by 7.19 per cent at Rs 1.42 crore versus (Dec'23 Rs 1.53 crore).

Operating Profit slipped by 48.61 per cent to Rs 61.41 crore as against Rs 119.49 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 6.30 per cent in December quarter.

Interest declined by 40.52 per cent y-o-y to Rs 4.08 crore, while Taxation decreased by 50.21 per cent at Rs 15.77 crore (Dec'23 Rs 31.67 crore).