The company reported standalone net profit of Rs 1.54 crore for the quarter ended December 31, 2019 as compared to Rs 9.61 crore in the same period last year, registering a year-on-year decline of 83.98 per cent.
Net revenue of the company declined substantially by 22.89 per cent at Rs 53.78 crore in October-December quarter of this fiscal as against Rs 69.74 crore in the corresponding period last year.
During October-December quarter, operating expenses dropped by 20.43 per cent to Rs 50.93 crore from Rs 64.01 crore in year ago period.
Other Income dipped by 79.82 per cent at Rs 1.77 crore versus (Dec'18 Rs 8.77 crore).
Operating Profit slipped by 50.35 per cent to Rs 2.85 crore as against Rs 5.74 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 35.60 per cent in December quarter.
Interest declined by 68.14 per cent y-o-y to Rs 0.65 crore, while Taxation decreased by 22.28 per cent at Rs 1.43 crore (Dec'18 Rs 1.84 crore).