Netweb Technologies share price locked at 5% upper circuit after robust Q4 results

Netweb Technologies India’s nett net successful the 4th fourth of FY24 jumped 181.8% to ₹29.66 crore from ₹10.52 crore successful the year-ago quarter.

The company’s gross from operations successful Q4FY24 accrued 115.48% to ₹265.80 crore from ₹123.39 crore, YoY.

The operating show of the machine server shaper besides improved arsenic it reported its highest ever quarterly EBITDA of ₹44.4 crore, up 170.6% YoY, with EBITDA margins astatine 16.4% successful Q4.

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“Our institution has achieved its highest-ever quarterly and yearly income and profits. As stated earlier, AI systems is present intelligibly progressing towards becoming the 3rd pillar of our growth. This is reflected by its gross increasing 2.6 times YoY, portion its publication to the company’s full gross has grown from 7% successful FY23 to 11% successful FY24, underscoring its value arsenic a important gross stream," said Sanjay Lodha, Chairman and Managing Director, Netweb Technologies.

The Board of Directors of Netweb Technologies person recommended a dividend of ₹2 per share.

For fiscal twelvemonth 2023-24, Netweb Technologies reported a topline maturation of 65.1% YoY to ₹735.96 crore, with its nett net rising 61.7% YoY to ₹75.9 crore. 

The company’s bid publication stood astatine ₹411.2 crore arsenic of March 31, 2024. It has onboarded 171 caller clients successful FY24, it said.

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Netweb Technologies shares made a banal marketplace debut successful July 2023. The institution had raised ₹631 crore from its archetypal nationalist offering (IPO) by selling shares astatine a terms set of ₹475 to ₹500 apiece. Netweb Technologies banal price was listed astatine ₹947 per share.

In conscionable 9 months of listing, Netweb Technologies stock terms has jumped implicit 253% from its IPO price. The banal is up much than 86% from its listing price.

At 1:00 pm, Netweb Technologies shares were astatine 5% precocious circuit astatine ₹1765.40 apiece connected the BSE, with its marketplace capitalisation hitting ₹9,950 crore.

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Published: 02 May 2024, 01:04 PM IST