Mumbai, July 25 -- Revenue from operation fell 14.29% YoY to Rs 116.21 crore in the quarter ended 30 June 2026.

On a sequential basis, the company's net profit dropped 69.18%, while revenue declined 24.15% compared with the preceding quarter.

Profit before tax (PBT) stood at Rs 3.66 crore in Q1 FY27, declining 68.11% YoY and 45.45% QoQ.

EBITDA came in at Rs 11.79 crore, down from Rs 17.18 crore in the year-ago period, while the EBITDA margin narrowed to 10.15% from 12.67%.

The company said revenue fluctuations are inherent to its Turnkey ASIC business, where revenue recognition is linked to project milestones and stages of completion. It noted that certain Turnkey engagements progressed to the tape-out stage during the quarter, impact...