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AI Boom Fuels Record Profit for Netweb Technologies
18 Jan
Summary
- Quarterly profit soared by two and a half times to Rs 733.1 crore.
- Revenue also hit a record high, growing 2.4 times to Rs 8,115.6 crore.
- A large strategic order of Rs 450.39 crore boosted the company's performance.
Netweb Technologies announced its most profitable quarter to date, reporting a profit after tax of Rs 733.1 crore for the October-December period. This represents a substantial increase of approximately two and a half times compared to the same period last year. The company's impressive financial results were primarily driven by escalating demand for artificial intelligence solutions, alongside robust growth in its high-performance computing and private cloud offerings.
Alongside its profit surge, Netweb Technologies also achieved a record quarterly revenue of Rs 8,115.6 crore during the December quarter. This figure is about 2.4 times higher than the Rs 3,355.5 crore reported in the corresponding quarter of the prior year. The company highlighted the execution of a significant strategic order valued at Rs 450.39 crore, reinforcing its standing in the high-end computing solutions market.
Chairman and Managing Director Sanjay Lodha expressed satisfaction with the company's record-breaking performance, emphasizing sustained demand across all core segments. The accelerated growth in AI, coupled with strong interest in HPC and Private Cloud, positions Netweb Technologies for continued success in the rapidly evolving technology landscape.
