NPST Delivers Stellar Performance in FY 2024, Posts 216% Growth in YoY Revenue
Mumbai, India April 29, 2024: NPST, a leading provider of digital banking and payment technology solutions listed on the NSE SME exchange, announced strong fourth quarter and full-year results for FY 2024. Buoyed by a winning combination of favourable growth in digital payments, as well as its innovative technology solutions and expanding customer base, NPST reported significant increases in both revenue and net profit. The consolidated FY 2024 annual revenue surged by 216% to ₹130.08 crore, up from ₹41.13 crore in FY 2023.
Additionally, net profit increased by 310% to ₹26.71 crore, a substantial rise from ₹6.52 crore in the previous fiscal year. For the fourth quarter of FY 2024, NPST achieved revenue of ₹44.71 crore, marking a significant 109% increase compared to the same quarter of the previous fiscal year. The company’s net profit also saw a remarkable increase of 161%, reaching ₹10.02 crore compared to the fourth quarter of the previous fiscal year.
In Q4, NPST secured significant orders for its Evok Payments Platform-As-a-Service (PPaaS) offerings from payment aggregators and incremental orders from existing banking clients. The company also diversified into offline payments with Qynx, its QR and SoundBox solution, securing orders from two major banks. Additionally, NPST secured an order for its ODR solution from DCB Bank.
Commenting on the results Ashish Aggarwal, Co-founder and Joint MD, NPST said; “We are proud to have delivered on our commitments, with a record-breaking performance across all metrics – organic revenue growth, PAT and earnings per share. These results reflect the strong fundamentals of our business. We anticipate continued positive momentum and are dedicated to maintaining our upward
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