Netweb Technologies reported a strong Q1 performance with profit after tax more than doubling year-on-year to Rs 30.5 crore, up from Rs 15.24 crore. Operating income surged 102% to Rs 301.2 crore, while operating EBITDA jumped 127.2% to Rs 44.8 crore, reflecting a healthy margin of 14.9%. PAT margin came in at 10.1%.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.