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Business EconomyPosted at: Oct 18 2024 5:02PM


NPST net up 264 pc at Rs 18.19 crore in Q2; Revenue grew 142 percent

New Delhi, Oct 18 (UNI) Fintech firm Network People Services Technologies (NPST), providing digital banking and payment technology solutions, has reported 264 percent jump in net profit at Rs 18.19 crore y-o-y basis during July-September period or Q2 of the current financial year as against Rs 5 crore in the same quarter of last fiscal.
Company’s revenues from operations grew 142 percent to Rs 68.91 crore in the second quarter, NPST said in a release. For the half-year FY’25, NPST achieved Rs 129.11 crore in revenue, reflecting an impressive growth of 68% compared to the same period in FY’ 24.
Half yearly net profit surged by 104%, rising to Rs 33.78 crore, up from Rs 16.55 crore in the previous year, it said.
Additionally, the company’s Board of Directors has formally approved the company's transition to a Mainboard listing, representing a significant milestone in NPST’s ongoing growth journey.
The Board also authorized the allotment of equity shares under the NPST Employee Stock Option Plan 2023 with an aim to strengthen the company’s talent pool, foster a performance-oriented culture, and build a strong leadership pipeline.
In Q2 FY 2025, NPST undertook several business initiatives to expand its market presence. The company launched PayJoy (an Instant Credit Line on UPI) to address unmet consumer needs for embedded credit to fund discretionary spending.
Additionally, NPST introduced the Risk Intelligence Decisioning Platform, which leverages machine learning to predict fraud in the rapidly growing online payments segment. Furthermore, NPST continuous to expand its technology footprint among Regional Rural Banks. The company recently partnered with a leading bank in the segment to implement its Bill Direct platform.
Speaking on the results, Deepak Chand Thakur, Co-Founder and CEO NPST, stated, “Our business once again demonstrated a solid trajectory this quarter. The company continues to execute the NPST 2.0 vision and its key pillars — Innovate, Transform, and Grow. Our commitment to these principles is evident in our highest-ever quarterly revenue growth and our new launches aimed at addressing significant white spaces in the market. With our decision to transition to the Mainboard, we are poised to accelerate NPST’s evolution into a mid-market enterprise, positioning ourselves for sustained long-term growth.”
Commenting on the company’s financial performance, Ashish Aggarwal, Co-Founder and Joint Managing Director of NPST, said, “Over the last three years, we have demonstrated consistent performance against a backdrop of operational discipline, continued scale, and ongoing innovations. The Board’s approval to transition to the mainboard validates our strategy and positions us for future growth.”
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