Multibagger stock engaged in the business of providing Digital payment solutions to banks, financial institutions, Merchants, and others jumped 5 percent in the day’s trade upon receiving a work order to deliver new-age digital banking and payment solutions
Price Action
With a market capitalization of Rs. 3,038 Crores, the shares of Network People Services Technologies Limited were trading at Rs. 1,567 per equity share, down 1.14 percent from its previous day’s close price of Rs. 1,585.
What Happened
Network People Services Technologies Limited has received a Purchase order for the Supply, Development, Installation, Configuration, Customization, Implementation, Maintenance, Monitoring, Management, and Commissioning of All-in-One Super App Mobile Banking Solution for a period of Three years for Kerala Gramin Bank and Karnataka Gramin Bank.
The All-in-One Super App will help banks deliver new-age digital banking and payment solutions to rural customers, significantly enhancing both accessibility and convenience. It reinforces the company’s position as a leading provider of innovative software solutions in the banking and payments sectors
About the company
Network People Services Technologies Limited is engaged in the business of providing Digital Payments solutions to banks, financial institutions, Merchants, and others.
It also serves as a Fintech partner to banks and financial institutes operating as a Technology Service Provider (TSP), providing certified solutions for digital payments which include Mobile Banking, Immediate Payment Service (IMPS), Bhim UPI, and a Wallet platform.
It has a strong marquee clientele base with well-known players like Canara Bank, Karnataka Bank, Tamilnad Mercantile Bank, Bank of Maharashtra, SBM Bank, and many more. It is also a Partner to Merchants & Payment Aggregators/ Payment Gateways like Jupiter, Easypay, Airpay, and many others.
Financials & Ratios
Its Revenue from operations grew by 212 percent from Rs. 41 Crores in FY23 to Rs. 128 Crores in FY24, accompanied by profits of Rs. 7 Crores to Rs. 27 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 93.3 percent and a return on capital employed (ROCE) of 123 percent. It is a debt-free company as it has a debt-to-equity ratio of 0.
Written by: Bharath K.S
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