Avantel zoomed 9% to Rs 197.05 after the company informed that it received a purchase order worth Rs 44.49 crore from Larsen & Toubro (L&T) for supply of satcom systems .
Shares of Larsen & Toubro (L&T) fell 0.33 per cent to currently trade at Rs 3,693.45 on BSE.
The contract includes the supply of satellite communications systems. The said contract is expected to be executed by March 2025.
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Avantel specializes in providing strategic solutions to Indian defense services and associated establishments. It has developed and manufactured various radio components and unique products such as satellite communications, HF communications, electronic warfare and radar systems. Currently, Avantel is working to expand its portfolio by developing software-defined radios, high-power HF systems, air defense radars and small satellites compliant with the SCA standard.
The company’s consolidated net profit declined 7.9% to Rs 7.38 crore on a 24.9% decline in net sales to Rs 51.76 crore in Q1FY25 over Q1 of exercise 24.
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First publication: September 30, 2024 | 9:22 a.m. STI
