One of the most significant occurrences that market players closely monitor is earnings season since profits ultimately determine the stock price over the long term.
This article will discuss a stock that shocked Wall Street with its stellar performance for the three months ending December 31, 2022.
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This company, Network People Services Technologies Limited (formerly Network People Services Technologies Pvt. Ltd.), specializes in offering merchants, banks, and other financial institutions digital payment solutions. With financial technology as the company’s main area of interest, they have developed a multi-layered solution for the cashless society.
The business has three business sectors:
- Technology service provider whose business provides banks with digital solutions.
- Banks and businesses can use Merchant Solutions, a company that provides payment and business solutions.
- IT services provided by businesses with a broad range of project capabilities.
In terms of financial performance, the firm showed a 128 percent YoY increase in total revenue, which came to Rs 10.32 in Q3FY23. It’s interesting to see that EBITDA increased 345% YoY to Rs 3.43 million. The most interesting element now is that the net profit increased by 1025% YoY to Rs 1.80 crore. The stock has increased 3% on Tuesday in light of the company’s strong financial performance.
In fiscal year 2022, a company released a Super App with more than 250 functions for India’s third-largest PSU Bank. When it comes to stock performance, the stock has soared 182.20 percent over the past six months, giving investors multibagger profits.