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Avantel reported a 42.44 per cent increase in its consolidated net profit to Rs 22.89 crore in the second quarter of FY25, compared to Rs 16.07 crore in the second quarter of FY24.
The company’s operating revenue jumped 42.5% YoY to Rs 77.42 crore in Q2FY25.
Profit before tax (PBT) stood at Rs 31.50 crore in Q1FY25, up 41.89% from Rs 22.20 crore in Q2FY24.
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Total expenditure increased 42.71% YoY to Rs 46.41 crore in Q2 FY25. Cost of materials consumed stood at Rs 25.77 crore (up 82.38 % YoY), payroll taxes stood at Rs 16.08 crore in Q2 FY25 (up 82.31% YoY) while financial costs were at Rs 0.71 crore (down 52.98% year-on-year) during the period. under review.
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 script lost 0.78% to settle at Rs 178.40 on Friday, October 4, 2024
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First publication: October 5, 2024 | 5:03 p.m. STI