Netweb Technologies Q3 Results: Profit Rises 16%, Revenue Up 32%

Domestic IT server maker Netweb Technologies India Ltd. posted a 16.56 growth in profit to Rs 30.3 crore in the third quarter ended Dec. 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.

The revenue from operations of Netweb increased by about 32% 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% 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.

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% in nine months of FY'25, with year-on-year growth of 136.3%," Lodha said.

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