Netweb Technologies Achieves Record Quarterly Profits Driven by AI and Cloud Demand

Netweb Technologies posted its highest-ever quarterly profit and revenue, with profits jumping two and a half times compared to the previous year. The firm's outstanding performance is largely attributed to increased demand for artificial intelligence, private cloud, and high-performance computing solutions.

Netweb Technologies, a leader in high computing solutions, announced a record quarterly profit of Rs 733.1 crore for the October-December period. This marks an impressive two and a half times increase in profit after tax (PAT) compared to the same quarter a year ago.

The company's remarkable performance is fueled by strong demand for artificial intelligence, growth in private cloud, and high-performance computing solutions. In addition to profits, Netweb also reported its highest-ever quarterly revenue of Rs 8,115.6 crore, which is around 2.4 times higher than the Rs 3,355.5 crore reported in the previous year's December quarter.

Sanjay Lodha, Chairman and Managing Director of Netweb Technologies, highlighted the execution of a significant strategic order worth Rs 4,503.9 million during the quarter, underscoring the company's status as India's largest OEM in high-end computing solutions. Lodha also pointed out the accelerated growth in artificial intelligence and the sustained demand in the firm's core sectors: HPC and private cloud.

(With inputs from agencies.)