IT Company Netweb Clocks Over 203 Pc PAT Growth In Q1 FY25
Date
7/20/2024 9:30:12 AM
(MENAFN- IANS) New Delhi, July 20 (IANS) 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.
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