The shares of the Defence company specializing in the business of designing, developing, and maintaining wireless and satellite communication products jumped upto 4 percent upon receiving a work order from Satish Dhawan Space Centre – ISRO for Rs. 5.81 crores.
Price action
With a market capitalization of Rs. 3,111.13 crores on Tuesday, the shares of Avantel Limited jumped upto 4 percent making a high of Rs. 132.35 per share compared to its previous closing price of Rs. 127.15 per share.
What Happened
Avantel Limited specializing in the business of designing, developing, and maintaining wireless and satellite communication products has received a domestic work order for Rs. 5.81 crores from Satish Dhawan Space Centre – SHAR, ISRO.
The order is an Annual Maintenance Contract for Wind Profiler Radar which is to be executed on January 2030.
About the company
Avantel Limited is a leading technology solutions provider specializing in communication, aerospace, and defense systems. The company offers innovative products and services in areas like satellite communication, radar systems, and more. With a strong focus on quality, Avantel is ISO-certified and serves both domestic and international clients.
Revenue Segmentation (FY23-24)
The company’s revenue is mainly concentrated in Communications and signal-processing Products in which it contributed Rs. 225.2 crore in FY24 compared to Rs. 154.7 crore in FY23 and from Healthcare it contributed Rs. 0.57 crore in FY24 compared to Rs. 0.18 crore in FY23.
Financials
The company’s revenue rose by 19.2 percent from Rs. 59.69 crore to Rs. 71.19 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs.16.32 crores to Rs. 20.08 crores in Q3FY24-25.
Written by Sridhar J
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