Hidden Gem under Rs 350: SME stock reports a jump of over 1000 per cent in its net profit in Q3, watch out!
Considering this robust financial performance by the company, the stock has rallied 3 per cent on Tuesday.
Earnings season is one of the most important events which market participants keenly watch out as it is earnings which drive the stock price in the long-run.
In this article, we are going to talk about stock which has taken D street by surprise with its outstanding performance for the quarter ended December 31, 2022.
The company we are talking about is Network People Services Technologies Limited (formerly known as Network People Services Technologies Pvt. Ltd.) is in the business of providing Digital Payments solution to banks, financial institutions and Merchants. Company’s primary focus being Financial Technology, they have built a multi-layered solution for the cashless economy.
Company has three business verticals:
- Technology Service Provider in which company offers digital solution to banks
- Merchant Solutions in which company offers payment and business solution to banks/merchants
- IT Services in which company offers technology stack with large project capability.
Talking about the financial performance, company reported a jump of 128 per cent YoY in its total revenue as total revenue stood at Rs 10.32 in Q3FY23. Interestingly, EBITDA soared 345 per cent YoY to Rs 3.43 crore. Now comes the most fascinating part, the net profit soared 1025 per cent YoY to Rs 1.80 crore. Considering this robust financial performance by the company, the stock has rallied 3 per cent on Tuesday.
Company in CY 2022 launched a Super App for third largest PSU Bank in India with 250+ features. Talking about the stock performance, in the last six months the stock has skyrocketed 182.20 per cent, hence, it has provided multibagger returns to its investors.