IT server maker Netweb Technologies on Thursday reported over 100% jump in its profit after tax to Rs 30.5 crore in the first quarter ended June 30, driven by a robust demand environment for artificial intelligence technologies. The company had posted a profit after tax of Rs 15.24 crore a year ago.
The operating income of Netweb also more than doubled to Rs 301.21 crore from Rs 149.3 crore in the June 2024 quarter.
"Our operating income grew by 101.7% year-on-year to Rs 3,012.1 million, reflecting the robust demand environment and our continued focus on disciplined execution. Profit after tax increased by 100% YoY to Rs 304.8 million, with a margin of 10.1%." Netweb Technologies Chairman and Managing Director Sanjay Lodha said.
The company during the quarter executed a large AI order in the critical defence sector, he added.
"We firmly believe that a country's defence strength in today's world is not just defined by its military firepower alone, but increasingly by its technological superiority." Lodha said.
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