IT Consulting & Software company Netweb Technologies India announced Q1FY25 results:
Financial Highlights:
- Total Income: Total Income at Rs 1,532 million, YoY growth of 154.4% over Q1FY24
- EBITDA: EBITDA at Rs 239 million, an increase of 164.1% over Q1FY24, EBITDA margin stood at 15.6%
- PAT: PAT at Rs 154 million, an increase of 203.4% over Q1FY24, PAT Margin was at 10.1%
- Net Debt: Net Debt stood at Rs (330.0) million as on Jun’24
Business Highlights:
- Order Book: Rs 4,197 million as on Jun’24 against Rs 994 million as on Jun’23
- Expansion: Commissioned State of the art Manufacturing facility with latest Surface Mount Technology, on 10th May 2024
- Segmental Growth: Income from AI Systems has grown by 146% YoY, its contribution to the company's operating revenue increased to 14.6% in the June quarter
Commenting on the results, Sanjay Lodha, Chairman and Managing Director, Netweb Technologies said: “We are pleased to state that India's flagship end-to-end high-end computing server, storage, and switch manufacturing facility in Faridabad was inaugurated by Honorable Secretary, Ministry of Information & Technology, GoI, on May 10, 2024, marking a significant milestone in the 'Make in India' initiative. This new facility represents a substantial leap in Netweb's manufacturing capabilities for cutting-edge computing systems, encompassing the entire production process including PCB design, manufacturing, and SMT for high-end servers, storage, and switches, demonstrating advanced manufacturing skills.
Our Total Income grew by 154.4% YoY to Rs1,532.1 million in Q1 FY25. EBITDA for Q1 FY25 increased by 164.1% YoY to Rs238.9 million, with an EBITDA margin of 15.6%. Profit after tax (PAT) increased by 203.4% YoY to Rs154.4 million in Q1 FY25, and the PAT margin improved from 8.5% in Q1FY24 to 10.1% in Q1 FY25.
India is rapidly emerging as a leader in AI adoption, with businesses increasingly leveraging AI to drive innovation and operational efficiency. These industry tailwinds create a fertile ground for innovation and expansion, and Netweb is uniquely positioned to harness these opportunities. Our strategic focus on three pillars; HPC, Private Cloud and AI, ensures that we are at the forefront of technological evolution. These pillars are the cornerstones of our growth strategy, enabling us to deliver cutting-edge solutions that meet the dynamic needs of global businesses.
AI systems has emerged as a pivotal growth pillar, contributing significantly to our operating revenue, with its share increasing to 14.6% in the quarter gone by, marking a robust growth of 146% YoY.
Our strong business pipeline and order book, combined with ongoing enhancements in our capabilities and expansion of both operations and product portfolio, place us well for sustained growth while maintaining our leadership in technology.”