NPST paves the way for long-term success with record breaking 3.3x growth in net profit for 9M FY23
Mumbai (Maharashtra) [India], February 11 (ANI/SRV): Network People Services Technologies Ltd (NPST) has announced a stunning financial performance by reporting healthy revenue of Rs 10.32 crore, a 127.59 per cent YoY growth for Q3 FY23, making waves in the UPI payment market. NPST, which specializes in providing cutting-edge digital payment solutions, has achieved remarkable growth in last quarter riding on its consistent investment on digital payment products for banking and fintech industry. NPST, a leading FinTech platform, set a high standard by reporting 3.3x in the 9M FY23 net profit, fuelled by a growth in digital payment ecosystem.
Total revenue for Q3 FY23 was reported at Rs 10.31 crore, with a YoY growth of 127.59 per cent.
Followed by EBITDA, which was reported at 3.43 crore, with a YoY growth of 345.45 per cent.
Net Profit for Q3FY23 was a staggering Rs 1.81 crore, representing a 1,031.25 per cent YoY surge.
Earning per share(EPS) has shown significant growth of 1020 per cent at Rs.2.80.
The 9M FY23 results were equally impressive, with total revenue at Rs 19.72 crore and a YoY growth of 58.78 per cent.
Followed by EBITDA, which was reported at 5.75 crore, with a YoY growth of 159.01 per cent.
The net profit was Rs 2.68 crore, with a YoY growth of 235 per cent.
Earning per share(EPS) has shown significant growth of 191.55 per cent at Rs.4.14.
"The trust built on NPST by the investor community since its IPO has been one of the key strength in building organisation's vision for long term growth strategy. We have taken decisions to build strong product stack, scale capacity and embark on newer territories to increase our customer base. This is visible in our Q3 results. We continue to invest in right direction and build the organisation of choice for our stakeholders, customers, employees and partners." Deepak Chand Thakur, Co-founder - NPST.
NPST has established itself as one of the innovative thought leader in the field, providing digital payment solutions to esteemed clients such as Canara Bank, Kerala Gramin Bank, Karnataka Gramin Bank, IBM India Private Limited, Tamilnad Mercantile Bank and Cosmos Co-operative Bank with incremental volume on a monthly basis. NPST as an authorized Merchant Payment Service Provider, approved by NPCI, has an impressive 10 Mn+ average transactions volume per month with 85,000+ sub-merchant base.
In 2022, NPST went above and beyond with the creation of a "Super App" for a large PSU bank, powering it with 256 services built with API hub and processing engine. This innovative approach has set a new standard in the industry and solidified NPST's position as a trailblazer in digital payment solutions.
The impressive Q3 financial results are attributed to successful expansion of its incremental banking business embarking on strategic investments in new technology and talent in 2023. NPST remains committed to delivering exceptional value to its stakeholders and is confident that, this is just the beginning of long-term growth.
Network People Services Technologies Limited is in the business of providing Digital Payments solutions to banks, financial institutions, and Merchants. NPST is an authorized Merchant Payment Service Provider, approved by NPCI, acquiring merchants, and providing payment applications to users across various segments. They also serve as Fintech partners to banks and financial institutes operating as Technology Service Providers (TSP), providing a certified digital payment solution including Mobile Banking, IMPS, Bhim UPI, and Wallet platform. For more information, visit (https://www.npstx.com/about-us/).
Stay tuned for more exciting news from NPST as they continue to blaze new trails in the digital payment world.
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First Published: IST