Netweb Technologies' Q3 Profit Grows 16% to ₹30.3 Crore
Third Quarter Financial Performance
Netweb Technologies, an Indian IT server manufacturer, reported a 16.56% increase in profit, reaching ₹30.32 crore for the third quarter ending December 31, 2024. This growth was driven by rising demand for artificial intelligence projects. The company had reported a profit of ₹26 crore in the same period last year.
Revenue Growth
Revenue from operations saw a significant rise of approximately 32%, reaching ₹334 crore during the reported quarter, compared to ₹253.4 crore in the December quarter of the previous fiscal year. The company expressed satisfaction with achieving its highest quarterly income and profit after tax (PAT).
Strategic Growth Initiatives
Sanjay Lodha, Chairman and Managing Director of Netweb Technologies, emphasized their strategic growth efforts. He stated, "We are delighted to report that we recorded our highest quarterly Income and PAT. In line with our growth strategy, export revenue contribution stood at 9.0% in Q3 FY25, reflecting our efforts to expand the international market presence and capitalize on global opportunities."
AI and Market Expansion
Lodha noted that India's AI research ecosystem, supported by government initiatives and industry partnerships, presents substantial innovation potential. Netweb is strategically positioned to leverage these opportunities, focusing on high-performance computing (HPC), private cloud, and AI. Artificial intelligence has become a crucial revenue source for Netweb Technologies, contributing 14.7% to their revenue over nine months of FY25, a year-on-year growth of 136.3%.
Order Book
As of December 2024, Netweb Technologies holds an order book valued at ₹360 crore. This positions them well for continued growth and expansion in both domestic and international markets.
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