Fintech SME Stock Achieves Record High Post Q3 Results Announcement

In today’s stock market session, the shares of Network People Services Technologies (NPST) Limited experienced robust buying interest following the release of strong Q3 results for the financial year 2023-24. NPST’s share price commenced the day with an upward gap and reached an intraday peak of ₹2,840 per share on the NSE, reflecting a approximately 5% increase on Tuesday.

During its ascent to the intraday high, this fintech stock also established a new lifetime high. However, profit booking ensued, causing the SME stock to dip to an intraday low of ₹2,575.55 per share.

The fintech company, known for bridging the gap between the banking and fintech realms with its suite of technology and payment products, disclosed its Unaudited Financial Results for Q3 & 9M FY24 on Tuesday. In the October to December 2023 quarter, the company reported a total income of ₹32.08 crore, marking a substantial YoY increase of around 210% compared to ₹10.32 crore in the corresponding period of the previous fiscal year.

For Q3FY24, NPST’s EBITDA stood at ₹10.99 crore, demonstrating a remarkable YoY surge of more than 220% from ₹3.43 crore in Q3FY23. The company’s EBOTDA margins experienced a YoY growth of over 100 basis points in the quarter ending December 2023.

Notably, NPST’s net profit for Q3FY24 reached ₹6.53 crore, showcasing an impressive YoY rise of over 260% compared to the net profit of ₹1.81 crore in Q3FY23. The net profit margin expanded by approximately 2.85% YoY in Q3FY24.

In the initial nine months of the current fiscal year, the fintech company’s total income surged to ₹85.40 crore, indicating a substantial YoY increase of over 332% from ₹19.76 crore in the corresponding period of the previous financial year. Additionally, NPST achieved a robust 393% YoY rise in EBITDA in the recently concluded quarter, with EBITDA margins improving to 4.15%. The net profit for Q3 of the current financial year witnessed an impressive 522% YoY growth, accompanied by a nearly 6% improvement in net profit margins.

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