Nettlinx' profit up by over 46 per cent

Hyderabad-based internet services provider Nettlinx Limited on Wednesday said it has posted 46.71 per cent growth in net profit during the second quarter ended September 30.

The company reported consolidated net profit of Rs 95 lakh against Rs 13 lakh in the corresponding quarter of last fiscal.

Consolidated total income for the second quarter stood at Rs 5.87 crore, as compared to Rs 4.90 crore in the same period last year, a growth of 19.75 per cent.

Earnings per share (EPS) for the quarter stood at Rs 0.83, compared to Rs 0.01 for the second quarter last fiscal.

For the half year period ended September 30, 2016, consolidated net profit for Nettlinx stood at Rs 5.54 crore.

Total income for the half year was Rs 16.63 crore, against Rs 8.26 crore during the same period last fiscal.

Nettlinx's EBITDA (earnings before interest, taxes, depreciation, and amortization) in half year stood at Rs 5.54 crore, as compared to Rs 0.49 crore during H1FY16.

"Nettlinx has invested substantially in world-class facilities and we are fully attuned to the exponential growth of the internet sector. Towards this, we will continue to bring high-tech practices in future as well, towards continuing to shape ourselves as leaders and enabling our states to emerge as global hubs," said Manohar Loka Reddy, Chairman, Nettlinx Limited.

"Given our operational excellence and robust performance, we look forward to the future with confidence," Reddy added.

The company is set to acquire 95 per cent of Salion SE of Germany, an asset management company which manages more than 1.70 million Euro investments.

Netllinx is investing half a million Euros into Salion SE. This strategic investment will help Nettlinx build a war chest for future acquisitions of high-tech companies in the industrial space in Germany, the company said.

--IANS

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