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Netweb’s quarterly revenue more than quadruples

Netweb Technologies more than quadrupled second-quarter operating revenue to 13,233 million rupees, an annual increase of 335.7 per cent. The Indian computing systems maker’s profit after tax rose 334.8 per cent to 1,367 million rupees. AI systems represented 58.4 per cent of quarterly operating revenue. First-half profit exceeded the preceding full fiscal year’s total, while the company also reported a larger order book.

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Quarterly revenue grows 335.7 per cent

Netweb Technologies, an Indian company that designs, manufactures and deploys computing systems, reported higher operating revenue and profit for its second fiscal quarter ended September 30. The company released unaudited quarterly and first-half results on October 24. Revenue from operations reached 13,233 million rupees, an increase of 335.7 per cent from 3,037 million rupees a year earlier. Compared with the preceding quarter’s 8,197 million rupees, revenue grew 61.4 per cent.[1], [2]

Operating earnings before interest, tax, depreciation and amortisation increased 334.0 per cent annually to 1,973 million rupees. The corresponding margin was 14.9 per cent, compared with 15.0 per cent a year earlier and 14.7 per cent in the preceding quarter. Profit after tax climbed 334.8 per cent to 1,367 million rupees. For the first half, profit reached 2,220 million rupees, exceeding the preceding full fiscal year’s 2,058 million rupees.[1]

AI systems supply 58.4 per cent of revenue

Chairman and Managing Director Sanjay Lodha said AI systems generated quarterly revenue of 7,731 million rupees, up 1,068.1 per cent annually and equivalent to 58.4 per cent of operating revenue. The business supplied 12,836 million rupees in first-half revenue, a 59.9 per cent share of the total. High-performance computing contributed 2,482 million rupees in the quarter, while private cloud contributed 2,448 million rupees.[1]

The order book follows a new capital raise

At September’s end the company reported an order book of 26,290 million rupees. It separately listed work worth 6,525 million rupees for which it held the lowest-bidder position, alongside a potential opportunity pipeline of 111,518 million rupees. First-half operating revenue was 21,430 million rupees, with operating earnings of 3,230 million rupees.[1]

Netweb raised 12,000 million rupees during the quarter, its first capital raise since its July 2023 stock-market listing. Reported net debt at September 30 was negative 136 million rupees. The company operates a production facility in the Delhi region and 22 offices across India.[1]

References

  1. News sourceNetweb TechnologiesNetweb quarterly revenue more than quadruples↩1↩2↩3↩4↩5
  2. News sourceFree Press JournalNetweb reported higher quarterly profit and operating revenue for the period ended 30 September.↩
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