Nettlinx Limited Announces Strong Financial Results for Q2 FY 24 and Half-Year Ended September 30, 2023
Nettlinx Limited, a leading ISP and IT/ITES services company for fully-converged network platforms in Telangana and Andhra Pradesh, is pleased to announce its financial performance for the second quarter and half-year ending on September 30, 2023.
Standalone Quarter-on-Quarter (QOQ) Highlights for Q2 FY 24 vs. Q2 FY 23:
– Revenue from Operations increased by 97.36%, reaching INR 47.17 million.
– EBITDA reported a 36.82% increase, totaling INR 23.54 million.
– Profit Before Tax surged by 258% to INR 18.60 million.
– Profit After Tax grew by 261% to INR 13.48 million.
Standalone Year-on-Year (YOY) Highlights for Q2 FY 24 vs. Q2 FY 23:
– Revenue from Operations increased by 113%, reaching INR 93.82 million.
– EBITDA reported a remarkable 220.97% increase, totaling INR 50.49 million.
– Profit Before Tax skyrocketed by 581% to INR 41.25 million.
– Profit After Tax witnessed an impressive 587% growth, reaching INR 29.98 million.
Consolidated Quarter-on-Quarter (QOQ) Highlights for Q2 FY 24 vs. Q2 FY 23:
– Revenue from Operations increased by 16.54%, reaching INR 74.60 million.
– EBITDA reported an outstanding 371% increase, totaling INR 29.04 million.
– Profit Before Tax showed a remarkable 1922% increase, reaching INR 23.87 million.
– Profit After Tax grew by an astounding 2264% to INR 16.79 million.
Consolidated Year-on-Year (YOY) Highlights for Q2 FY 24 vs. Q2 FY 23:
– Revenue from Operations increased by 22.60%, reaching INR 145.40 million.
– EBITDA reported a remarkable 341.53% increase, totaling INR 58.15 million.
– Profit Before Tax witnessed an extraordinary 1115.78% increase, reaching INR 48.51 million.
– Profit After Tax showed an astonishing 5200% growth, totaling INR 34.98 million.
Commenting on these exceptional results, Dr. Manohar Loka Reddy, Managing Director and Promoter of Nettlinx Limited, stated, “Nettlinx has set a strong footing for the current financial year with good Q2 earnings. The company’s remarkable performance is fueled 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.”
Dr. Loka Reddy also highlighted Nettlinx’s capabilities in the fields of ISP, IT/ITES, Artificial Intelligence, Audio Video Streaming Services, and Unified Communication Services, aiming to help clients enhance their business efficiency, customer experiences, and competitive edge in their respective markets.