Multibagger IT stock posts 1,031% PAT growth in Q3, up 400% from 52-week-low

With a market valuation of ₹211 Cr, Network People Services Technologies Limited (NPST) is a small-cap company that operates in the IT industry. The firm has announced its Q3 results with an amazing performance in addition to being a multibagger stock that the Indian stock market has seen in recent years.

On a consolidated basis, the company posted a net income of ₹10.32 Cr in Q3FY23 compared to ₹4.54 Cr in Q3FY22, representing a YoY growth of 127.59%. The company's EBITDA reached ₹3.43 Cr marking 345.45% YoY growth whereas EBITDA margin was at 33.27%; higher by 1,627 bps in the quarter ended December 2022. Network People Services Technologies Limited (NPST) posted a consolidated net profit of ₹1.81 Cr in Q3FY23 compared to ₹0.16 Cr in the year-ago quarter, representing a growth of 1,031.25% YoY, whereas PAT margin was at 17.56%; higher by 1402 bps YoY. The EPS of Network People Services Technologies Limited (NPST) reached ₹2.80 in Q3FY23 compared to ₹0.26 in Q3FY22, representing a YoY growth of 1,020%.

Commenting on the performance, Mr. Deepak Thakur – Chairman and Managing Director of Network People Services Technologies Limited said, “We have received a robust response to our digital payment services and that is clearly visible in our financial performance. The digital payment ecosystem is gaining rapid momentum and it is just the beginning of the digital revolution in the Indian economy, we are confident with our quality services & track record we will grow along with the digital payment ecosystem and increase our market share in the coming years.”

The shares of Network People Services Technologies closed today on the NSE at ₹326.15 apiece level, down by 4.91% from the previous close of ₹343.00. The stock reached a 52-week-high at ₹398.40 and a 52-week-low at ₹62.15, indicating that at the current market price, the stock is trading, 18.13% below the 1-year high and 424.77% above the 1-year low.

Established in 2013, Network People Services Technologies Limited (NPST) specialises in mobile banking applications, payment switch solutions (like IMPS & UPI), Merchant acquiring systems, and digital wallets. NPST also provides software and digital payment solutions to the banking and finance sector. In FY22, NPST recorded sales of ₹19.5 crore with a 26% YoY rise and net profit of ₹1.5 crore with a 39% YoY growth. NPST is a registered Merchant Payment Service Provider, certified by NPCI.