"This measures would result into saving in annual finance cost of the company," the Optiemus Group firm said in a statement. The announcement was made during market hours today.

Optiemus Infracom is the flagship company of the Optiemus Group and has been engaged in distribution of mobile handsets of reputed brands.

The company's consolidated net profit declined 97.20% to Rs 2.83 crore despite 104.14% increase in sales to Rs 194.50 crore in Q4 FY22 over Q4 FY21.