Netweb Technologies Reports Stellar Growth in AI-Driven Profits

Netweb Technologies reported a significant increase in profits, doubling from last year's figures, driven by growing demand for AI technologies. The firm's operating income also more than doubled, with strategic focus translating into major orders in the defense sector, showcasing technological prowess as a key defense strength.

IT server manufacturer Netweb Technologies unveiled a remarkable financial performance, showcasing over a 100 percent increase in profit after tax, reaching Rs 30.5 crore for the June quarter. This surge is primarily attributed to a thriving demand across artificial intelligence technologies.

The company's operating income more than doubled, soaring to Rs 301.21 crore, compared to Rs 149.3 crore in the previous year. 'Our year-on-year operating income growth reflects the robust AI demand and our strategic execution,' said Netweb's Chairman and Managing Director, Sanjay Lodha. Profits after tax also doubled to Rs 304.8 million with a margin of 10.1 percent.

Netweb Technologies executed a significant AI order within the defense sector, underscoring the shift towards technology as a pivotal component of national defense. 'A nation's defense strength is increasingly defined by technological superiority alongside military firepower,' Lodha added.

(With inputs from agencies.)