IT company Netweb clocks over 203 pc PAT growth in Q1 FY25
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Netweb Technologies, a high-end computing solutions (HCS) provider, on Saturday, reported 203.4 per cent rise (year-on-year) in profit after tax (PAT) at Rs 15.4 crore in the first quarter of FY25.
Total income grew by 154.4 per cent YoY to Rs 153.1 crore in the April-June quarter.
"We are pleased that India's flagship end-to-end high-end computing server, storage and switch manufacturing facility in Faridabad was inaugurated on May 10, marking a significant milestone in the 'Make in India' initiative," said Sanjay Lodha, Chairman and Managing Director, Netweb.
AI systems emerged as a pivotal growth pillar, contributing significantly to the company's operating revenue, with its share increasing to 14.6 per cent in the April-June quarter, marking a growth of 146 per cent YoY.
"India is rapidly emerging as a leader in AI adoption, with businesses increasingly leveraging AI to drive innovation and operational efficiency," said Lodha.
In June, Netweb announced the launch of a range of servers from its Faridabad-based manufacturing facility.
The facility will manufacture high-end computing systems based on the latest chips from Netweb's technology partners such as Intel, Nvidia and AMD.
