Netweb Tech locks in 5% upper circuit after profit shoots up 181% in Q4

The cloud services company, Netweb Technologies’s share gained and locked in 5 per cent upper circuit at Rs 1765.40 a piece on the BSE in Thursday intraday trade. A total of 8,222 stocks of the company changed hands on the BSE. In comparison the S&P BSE Sensex rose 0.30 per cent at 74,740 levels.

This came after the company delivered a strong show in its January-March quarter results of financial year 2023-24 (Q4FY24) on Wednesday.

The company posted its highest ever quarterly income of Rs 269 crore, an increase of 116.5 versus Rs 126 crore reported in the corresponding quarter of the previous year.