Monday saw a 10% increase in the share price of Netweb Technologies to a record high of ₹2,949.65 per share following the company’s release of impressive Q2 results.
The amount of shares traded for Netweb Technologies also increased. On Monday, almost 6 lakh equity shares of Netweb Technologies were traded on the BSE and NSE combined, compared to an average of 2 lakh shares for the previous week.
For the quarter that ended in September 2024, Netweb Technologies India recorded a net profit of ₹25.72 crore, up 69.8% from ₹15.14 crore in the same period the previous year. Net profit increased sequentially from ₹15.44 in the June quarter to 66.5%.
With a total income of ₹253.11 crore in Q2FY25, the company saw an increase of 71% YoY from ₹148 crore and 65.2% QoQ from ₹153.21 crore.
According to a regulatory filing from Netweb Technologies India, the revenue generated by AI systems has surged by 229% year over year and accounted for 14.8% of the company’s operational revenue in the September quarter.
“AI has rapidly become a pivotal contributor to our revenue, growing its share to ~15% in H1FY25, with a 193% YoY increase. Fuelled by innovation, this strong growth highlights AI’s role as a cornerstone of our business strategy and our future growth,” said Sanjay Lodha, Chairman and Managing Director, of Netweb Technologies.
As of September 2024, the company’s order book stood at ₹369.7 crore, up from ₹217.4 crore in September 2023.
From an operational perspective, the September quarter saw a 69.7% increase in profits before interest, tax, depreciation, and amortisation (EBITDA) to ₹37.76 crore from ₹22.25 crore. However, the EBITDA margin decreased by 12 basis points (bps) to 14.9% from 15% year over year.
“Our business pipeline and order book remain strong. We’re pleased to state that we have started receiving export orders and this aligns with our growth strategy to enter overseas markets,” said Lodha.
Netweb Technologies Stock Price
The price of Netweb Technologies’ small-cap stock has risen dramatically over the last three months, rising by more than 17%. The shares of Netweb Technologies have produced multi-bagger returns of over 215% over the last year and over 135% year-to-date (YTD).
At 10:15 a.m., Netweb Technologies’ shares were up 4.24% on the BSE, trading at ₹2,795.10 each.
