Netweb Technologies Ltd. reported a significant year-on-year rise in net profit and revenue for the July-September quarter. The company’s net profit surged 70% to Rs 25.7 crore, compared to Rs 15.1 crore in the same period last year.
Revenue saw a 73.2% increase, rising to Rs 251 crore from Rs 145 crore. Earnings before interest, tax, depreciation, and amortisation (Ebitda), or operating profit, saw an 85.5% increase to Rs 35.7 crore from Rs 19.2 crore. The Ebitda margin improved to 14.2% from 13.3% in the corresponding quarter of the previous fiscal year.
Net profit sees impressive surge
The company’s order book stood at Rs 369.7 crore as of September 2024, up from Rs 217.4 crore in September 2023. Segment-wise, income from AI Systems grew by 229% year-on-year, contributing 14.8% to the company’s operating revenue in the September quarter.
The company attributed this growth to India’s thriving AI research ecosystem, bolstered by government initiatives and industry partnerships. “Our strategic focus on three pillars—HPC, Private Cloud, and AI—keeps us at the forefront of technological evolution,” the company said. “Fueled by innovation, this strong growth highlights AI’s role as a cornerstone of our business strategy and our future growth.”
The company also noted that it has begun receiving export orders, aligning with its growth strategy to enter overseas markets.
“Continuous improvements in our capabilities, along with the expansion of our operations and product range, position us well for ongoing growth while maintaining our technological leadership,” the company added.
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