Netweb Technologies share price locked at 5% upper circuit after robust Q4 results
₹1,765.40 apiece on the BSE Thursday after the company reported strong earnings for the quarter ended March 2024. Netweb Technologies India’s net profit in the fourth quarter of FY24 jumped 181.8% to ₹29.66 crore from ₹10.52 crore in the year-ago quarter. The company’s revenue from operations in Q4FY24 increased 115.48% to ₹265.80 crore from ₹123.39 crore, YoY.
The operating performance of the computer server maker also improved as it reported its highest ever quarterly EBITDA of ₹44.4 crore, up 170.6% YoY, with EBITDA margins at 16.4% in Q4. Also Read: Q4 results review: Havells India shares hit record high on strong earnings despite MOSL downgrade “Our company has achieved its highest-ever quarterly and annual income and profits. As stated earlier, AI systems is now clearly progressing towards becoming the third pillar of our growth.
This is reflected by its revenue growing 2.6 times YoY, while its contribution to the company’s total revenue has grown from 7% in FY23 to 11% in FY24, underscoring its importance as a significant revenue stream," said Sanjay Lodha, Chairman and Managing Director, Netweb Technologies. The Board of Directors of Netweb Technologies have recommended a dividend of ₹2 per share. For financial year 2023-24, Netweb Technologies reported a topline growth of 65.1% YoY to ₹735.96 crore, with its net profit rising 61.7% YoY to ₹75.9 crore.
The company’s order book stood at ₹411.2 crore as of March 31, 2024. It has onboarded 171 new clients in FY24, it said. Also Read: Kotak Mahindra Bank share price falls over 4% after KVS Manian resigns; Nuvama downgrades stock, cuts target Netweb Technologies shares made a stock market debut in July 2023.
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