Netweb Technologies Ltd. reported a 70% year-on-year rise in net profit in the July-September quarter on the back of a 73.2% jump in revenue.
During the quarter, the company reported a net profit of Rs 25.7 crore, compared with Rs 15.1 crore in the year ago quarter, according to an exchange filing. Revenue rose to Rs 251 crore from Rs 145 crore in the same quarter last year.
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, while Ebitda margin was at 14.2% as against 13.3% in the same quarter last fiscal.
The company’s order book stood at Rs 369.7 crore as of September 2024 against Rs 217.4 crore in September 2023.
Segment wise, it noted that income from AI Systems has grown by 229% YoY and its contribution to the company’s operating revenue increased to 14.8% in the September quarter.-
The company said that with India’s AI research ecosystem thriving through government initiatives and industry partnerships, the potential for innovation is immense and that it is well positioned for these opportunities.
“Our strategic focus on three pillars—HPC, Private Cloud, and AI—keeps us at the forefront of technological evolution,” it said. “Fuelled by innovation, this strong growth highlights AI’s role as a cornerstone of our business strategy and our future growth.”
“Our business pipeline and order book remain strong. We’re pleased to state that we have started receiving export orders and this aligns with our growth strategy to enter overseas markets,” it added. “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. “
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