Nettlinx Limited, a prominent ISP and IT/ITES services company in Telangana and Andhra Pradesh, has reported a staggering surge in its first-quarter profit, surpassing the figures projected for the full fiscal year 2022-2023. The company’s net profit after tax (PAT) witnessed a remarkable increase of 2,508% year-over-year, reaching Rs 16.5 million. The sequential growth rate stood at an impressive 177.5%.
Nettlinx Limited also witnessed a substantial boost in its total revenue, which more than doubled, registering a growth rate of 132.6% compared to the previous year. The revenue reached Rs 46.6 million, with a sequential growth rate of 36.9%.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) recorded phenomenal growth as well. It escalated nearly five times or 364.8% year-over-year to Rs 26.9 million. Moreover, the sequential growth rate for EBITDA was 111.5%.
Nettlinx Limited achieved this astounding profit growth mainly due to a significant rise in revenues and a reduction in expenses. The company experienced a decline in finance costs both year-over-year and sequentially.
On a consolidated basis, Nettlinx Limited’s PAT witnessed a surge of over 13 times or 1,216.5% year-over-year, amounting to Rs 18.2 million. The sequential growth rate was even more impressive, reaching nearly 34 times or 3,270.8%. The company’s total revenue rose by 29.8% year-over-year to Rs 70.8 million, with a sequential growth rate of 5.2%.
EBITDA on a consolidated basis also experienced significant growth, increasing more than four times or 315.7% year-over-year to Rs 29.1 million. The sequential growth rate for EBITDA was an astounding 346.2%.
Notably, Nettlinx Limited successfully completed the allotment of its maiden bonus share on April 25. Moreover, the company remains confident about the Rs 112 million contract announced in the third quarter of the fiscal year 2022-2023, expecting it to positively impact its revenues.
Dr. Manohar Loka Reddy, the Managing Director and Promoter of Nettlinx Limited, expressed his enthusiasm regarding the company’s outstanding performance in Q1. He attributed the remarkable top-line and bottom-line results to the Rs 112-million contract secured in late FY23. Additionally, Dr. Reddy stated that the growth momentum of the Indian economy from FY23 would further enhance prospects for their industry and clients in FY24.
Nettlinx Limited specializes in ISP, IT/ITES, Artificial Intelligence, Audio Video Streaming Services, and Unified Communication Services. The company aims to assist its clients in enhancing their business efficiency, improving customer experiences, and gaining a competitive edge in their respective markets.
Overall, Nettlinx Limited’s exceptional financial performance in Q1 showcases its strong position in the industry and highlights its commitment to providing long-term value to shareholders. With its robust growth in revenues and profits, the company is poised for a successful fiscal year ahead.
