Multibagger stock engaged in the business of providing Digital Payments solutions hit a 5 percent upper circuit following Q3FY24 results with a 262 percent jump in net profit YoY.
With a market capitalization of Rs. 1,760.73 Crores, the shares of Network People Services Technologies Limited hit a 5 percent upper circuit at Rs. 2,724.75. It has delivered multi-bagger returns of 676 percent in a year.
Its revenue from operations grew by 207.13 percent YoY from Rs. 10.22 Crores in Q3FY23 to Rs. 31.39 Crores in Q3FY24 and it grew 12.30 percent QoQ from Rs. 27.95 Crores in Q2FY24 to Rs. 31.39 Crores in Q3FY24.
Its Net Profit grew by 262.77 percent YoY from Rs. 1.80 Crores in Q3FY23 to Rs. 6.53 Crores in Q3FY24 and it grew 30.6 percent QoQ from Rs. 5 Crores in Q2FY24 to Rs. 6.53 Crores in Q3FY24.
Network People Services Technologies Limited is engaged in the business of providing Digital Payments solutions to banks, financial institutions, Merchants, and others.
It has reported a return on equity (ROE) of 25.8 percent and a return on capital employed (ROCE) of 34.5 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the quarter ended September 2023, the company’s Promoters hold a 67.55 percent stake, the Foreign Institutional Investors (FII) Hold 0.02 percent and the Domestic Institutional Investors hold 5.82 percent.
Written by: Bharath K.S
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