Shares of Netweb Technologies hit new record high on October 21 after the company reported 70 percent rise in net profit in the second quarter of FY25.
The stock jumped in early trading hours to Rs 2,949.8 on NSE, a 52-week high, before paring some of the gains to trade at Rs 2,787, up 3.93 percent at 12:14 pm.
In the last one year, the shares of the company have recorded a massive 232.41 percent jump.
The company had made hefty listing gains on its stock market debut on July 27, 2023, with a premium of 88 percent over its issue price of Rs 500.
Last week, the company reported a net profit of Rs 25.7 crore in Q2FY25, an increase of 69.8 percent over Rs 15.14 crore in the same period of the previous financial year, according to the exchange filing released on October 19.
The company posted Rs 15.44 crore in the first quarter of the current financial year, the filing showed. The total income was at Rs 253.1 crore in the reported quarter, a jump of 71 percent over the year-ago period.
Ebitda came in at Rs 37.8 crore, while the Ebitda margin was at 14.9 percent in the September quarter. The order book also jumped 70 percent to Rs 369.7 crore in the September quarter from Rs 217.4 crore in the year-ago period, the filing showed.
“With India's AI research ecosystem thriving through government initiatives and industry partnerships, the potential for innovation is immense. Netweb is well-positioned to harness these opportunities,” Sanjay Lodha, chairman and managing director, Netweb Technologies said.
Netweb is India’s leading high-end computing solutions (HCS) provider, with fully integrated design and manufacturing capabilities, the company statement said.
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