High-end computing solutions (HPC) provider Netweb Technologies India has recorded a massive 66 percent year-on-year increase in profit at Rs 15.14 crore for the quarter that ended September FY24, driven by healthy topline performance.
The revenue from operations during the quarter came in at Rs 145 crore, increasing 97 percent over the corresponding period last fiscal, the company said in its filing to exchanges.
The Delhi-based company provides various products and solutions, comprising HPC, private cloud and HCI, AI systems and enterprise workstations, high-performance storage and data centre servers, to several industries such as IT, ITES, BFSI, National Data Centers and government entities such as defense, education and R&D institutions.
Its EBITDA (earnings before interest, tax, depreciation and amortisation) grew by nearly 44 percent on-year to Rs 19.2 crore during the July-September period of FY24, but the margin fell sharply by 480 bps YoY to 13.3 percent during the same period impacted by high input cost.
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"Gross profit was at Rs 39.2 crore, marking a YoY increase of 71.4 percent. The gross profit margin was 27 percent, down from 31 percent in the corresponding quarter of the previous year," Netweb said.
Meanwhile, the company said the board of directors have given approval for Capital expenditure up to Rs 23.4 crore out of the proceeds of the initial public offering. The company in July this year had raised Rs 631 crore through its public issue.
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