NPST’s H1FY24 Results: Navigating the growth in fintech with a remarkable 464% of Revenue Surge

New Delhi (India), October 26: Network People Services Technologies Limited (NPST) (NSE EMERGE – NPST), a fintech company bridging the banking and fintech worlds with their product suite of Technology and payments, hasannounced its Unaudited Financial Results for the H1 FY24.

Key Financial Highlights (Consolidated):

H1 FY24:

• Total Revenue ₹53.32 Crore vs ₹9.44 Crore in H1 FY23, YoY Growth of 464.84%

• EBITDA ₹17.41 Crore vs ₹2.32 Crore in H1 FY23, YoY Growth of 650.65%

• EBITDA Margin 32.65% vs 24.57% in H1 FY23, YoY Growth of 808 Bps

• Net Profit Before Tax ₹13.60 Crore vs ₹1.21 Crore in H1 FY23, YoY Growth of 1023.97%

• Net Profit Margin 25.96% vs 13.09% in H1 FY23, YoY Growth of 1287 Bps

• EPS ₹15.72 vs ₹1.35 in H1 FY23, YoY Growth of 1064.44%

FY24 -Quarterly Comparison:

• Total Revenue ₹28.42 Crore vs ₹24.88 Crore in Q1 FY24, YoY Growth of 14.23%

• EBITDA ₹9.50 Crore vs ₹7.90 Crore in Q1 FY24, YoYGrowth of 20.25%

• EBITDA Margin 33.43% vs 31.75% in Q1 FY24, YoYGrowth of 167 Bps

• Net Profit Before Tax ₹7.40 Crore vs ₹6.21 Crore in Q1 FY24, YoY Growth of 19.16%

• Net Profit Margin 26.04% vs 24.96% in Q1 FY24, YoYGrowth of 108 Bps

The company in accordance with accounting principles have classified FDRs (no Lien) amounting to Rs. 31.28 Cr of more than three months maturity in other current assets and FDR’s (no Lien) amounting to Rs. 2.07 Cr maturing within three months under cash and cash equivalents. Owing to such classification, operating cash flows reflects negative due to inclusion of incremental FDR amounting to Rs. 19.23 Cr in the “Other Current Assets”.

Commenting on the performance, Mr. Ashish Aggarwal – Joint Managing Director of NPST Limited said, “NPST is strongly headed for ambitious growth path and that is clearly indicated by our H1FY24 financial performance. The remarkable growth in digital payments in India and the global expansion of UPI (Unified Payments Interface) indicates a positive market environment.

NPST’s nimbleness in responding to rising demand and growing customer base is a valuable trait. Being focused on technology and staying updated with developments in the fintech industry is essential for staying competitive and meeting evolving customer needs. Investing in technology and building new product roadmap is key to our forward-thinking approach.

Expanding client base and product offerings while growing revenues and profits is a clear sign of a successful business strategy. We would continue to maintain this momentum while continuously innovating to stay ahead in the ever-evolving fintech landscape.”

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