Sharp drops for big technology companies are yanking the U.S. stock market lower on Thursday, while prices for bitcoin, silver and gold weaken. Yields are also sinking in the bond market following discouraging news on the U.S. job market. Alphabet was one of the heaviest weights on the market and
Netweb Technologies Q3 profit jumps multifold to Rs 733 crore
High computing solutions firm Netweb Technologies on Saturday posted its highest-ever quarterly profit with about a two and half times jump in profit after tax (PAT) at Rs 733.1 crore in the October-December period.
The company's performance was driven by demand for artificial intelligence, growth in private cloud and high performance computing solutions.
The company had posted a PAT of about Rs 297 crore in the same quarter a year ago.
The company also posted its highest-ever quarterly revenue of Rs 8,115.6 crore during the quarter, around 2.4 times higher than Rs 3,355.5 crore it reported in the December quarter.
Netweb Technologies Chairman and Managing Director Sanjay Lodha said the company has delivered a record-breaking quarter achieving its highest-ever income and profit.
"During the quarter, Netweb executed a large strategic order valued at Rs 4,503.9 million (Rs 450.39 crore), reaffirming its position as India's largest OEM in high-end computing solutions. We would also like to emphasise that alongside the accelerated growth in AI, our other two core segments, HPC and Private Cloud, are also witnessing strong and sustained demand," he said.
Source: EconomicTimes
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Sharp drops for big technology companies are yanking the U.S. stock market lower on Thursday, while prices for bitcoin, silver and gold weaken. Yields are also sinking in the bond market following discouraging news on the U.S. job market. Alphabet was one of the heaviest weights on the market and
1 months ago
