Netweb Technologies share price jumped 10% to a record high of ₹2,949.65 apiece on Monday after the company reported strong Q2 results.
Volumes traded of Netweb Technologies shares also spiked. Around 6 lakh equity shares of Netweb Technologies changed hands on BSE and NSE combined on Monday as against its one week average volumes of 2 lakh shares.
Netweb Technologies India reported a net profit of ₹25.72 crore for the quarter ended September 2024, an increase of 69.8% from ₹15.14 crore in the year-ago quarter. On a sequential basis, net profit rose 66.5% from ₹15.44 in the June quarter.
Total income of the company at ₹253.11 crore in Q2FY25 registered a growth of 71% from ₹148 crore, YoY, and 65.2% growth from ₹153.21 crore, QoQ.
Income from AI Systems has grown by 229% YoY, its contribution to the company’s operating revenue increased to 14.8% in the September Quarter, Netweb Technologies India said in a regulatory filing.
“AI has rapidly become a pivotal contributor to our revenue, growing its share to ~15% in H1FY25, with a 193% YoY increase. Fuelled by innovation, this strong growth highlights AI’s role as a cornerstone of our business strategy and our future growth,” said Sanjay Lodha, Chairman and Managing Director, Netweb Technologies.
The company’s order book increased to ₹369.7 crore as on September 2024 against ₹217.4 crore as on September 2023.
At the operational level, earnings before interest, tax, depreciation and amortization (EBITDA) in the September quarter increased 69.7% to ₹37.76 crore from ₹22.25 crore, while EBITDA margin narrowed by 12 basis points (bps) to 14.9% from 15%, YoY.
“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,” said Lodha.
Netweb Technologies Stock Price
Netweb Technologies stock price has seen a sharp rally as the small-cap stock gained over 17% in the past three months. Netweb Technologies shares have given multibagger returns of more than 135% year-to-date (YTD) and over 215% in the past one year.
At 10:15 am, Netweb Technologies shares were trading 4.24% higher at ₹2,795.10 apiece on the BSE.
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