Latest News | Netweb Technologies Profit Rises 16 Pc to Rs 30.3 Crore on Oct-Dec Qtr

New Delhi, Jan 18 (PTI) Domestic IT server maker Netweb Technologies posted a 16.56 per cent growth in profit to Rs 30.32 crore in the third quarter ended December 31, 2024, driven by demand for artificial intelligence-related projects, the company said in a regulatory filing on Saturday.

Netweb Technologies had posted a profit of Rs 26 crore in the same period a year ago.

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The revenue from operations of Netweb increased by about 32 per cent to Rs 334 crore during the reported quarter from Rs 253.4 crore in the December quarter of the last fiscal.

"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," Netweb Technologies chairman and managing director, Sanjay Lodha said in a statement.

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He said India's flourishing AI research ecosystem, supported by government initiatives and industry partnerships, presents immense innovation potential.

"Netweb is well-positioned to seize these opportunities, guided by our strategic focus on three pillars: HPC, Private Cloud, and AI. AI has emerged as a key revenue driver, contributing 14.7 per cent in 9 months of FY'25, with year-on-year growth of 136.3 per cent," Lodha said.

The company has an order book of Rs 360 crore as of December 2024.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)