Shares of Netweb Technologies hit the 5 percent upper circuit on January 24 after the company unveiled a robust financial performance for the quarter ended December 2023.
The stock surged by 5 percent, reaching Rs 1428.90 on the NSE, as investors responded positively to the strong set of numbers reported by the company.
Year-on-year, Netweb Technologies reported a 20 percent increase in profit after tax for the quarter, rising to Rs 26 crore from Rs 21.68 crore in the corresponding quarter last year. The company’s revenue also exhibited a substantial growth, reaching Rs 257.91 crore, marking a notable 44.3 percent increase from Rs 178.69 crore.
Investors are closely monitoring Netweb Technologies as it demonstrates solid financial performance, signaling positive growth prospects for the company. The stock’s upper circuit suggests strong investor confidence in the company’s strategic initiatives and overall market positioning.
