Nettlinx Sustains Impressive Growth; Q1 Net Profit Soars over 26-Fold to Reach INR 16.5 Million; PAT Surpasses FY23 Full-Year Record; Revenue More Than Doubles

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Business Wire IndiaNettlinx Limited, a leading ISP and IT/ITES services company for fully-converged network platforms (data, voice and video) in Telangana and Andhra Pradesh, has announced its financial results for the first quarter ended June 30.

Highlights for the quarter ended June 30, 2023

Standalone
 

  • PAT surges over 26 times or 2,508% year-over-year to INR 16.5 million; Sequential growth at 177.5%
  • Q1 PAT tops the full year figure for FY22-23.
  • Total revenue more than doubles, rising 132.6% year-over-year to INR 46.6 million; Sequential growth at 36.9%.
  • EBITDA grew nearly five times or 364.8% year-over-year and 111.5% sequentially to INR 26.9 million.
  • The company managed this stellar growth in profit, mainly on a substantial rise in revenues and contraction in expenses.
  • Finance cost came down both year-over-year and sequentially.

 
Consolidated
 

  • PAT grows over 13 times or 1,216.5% year-over-year to INR 18.2 million; Sequential growth at nearly 34 times or 3,270.8%.
  • Total revenue rises 29.8% year-over-year to INR 70.8 million; Sequential growth at 5.2%
  • EBITDA rose more than four times or 315.7% year-over-year and 346.2% sequentially to INR 29.1 million.
  • The company managed this growth in profit, mainly on rise in revenues in the ISP division. 

Others
 

  • Completed allotment of maiden bonus share on April 25.
  • The INR 112 million contract announced in Q3’FY23 continues to be revenue accretive for Nettlinx.

 
Dr. Manohar Loka Reddy, Managing Director and Promoter, Nettlinx Limited said, “Nettlinx has set a strong footing for the current financial year with a good Q1 earnings. The company’s remarkable top-line and bottom-line performance is fuelled by the INR 112-Million contract secured in late FY23. Additionally, the Indian economy’s growth momentum from FY23 is expected to bolster prospects for our industry and clients in FY24. Underlining our commitment to shareholders, we successfully concluded the inaugural bonus share issue, further solidifying our dedication to creating long-term value for them. We are extremely excited to showcase our exceptional capabilities in the field of ISP, IT/ITES, Artificial Intelligence, Audio Video Streaming Services and Unified Communication Services to help our clients in business efficiency, enhance their customer experiences, and help them gain a competitive edge in their respective markets.”