Hot Pursuit     10-Oct-23
Avantel spurts after Q2 PAT rises nearly 3x YoY; board OKs 2:1 bonus equity issue
Avantel zoomed 13.24% to Rs 305.85 after the company's consolidated net profit surged 161.7% to Rs 16.07 crore in Q2 FY24 from Rs 6.14 crore in Q2 FY23.

Net sales increased by 50% to Rs 54.33 crore during the quarter. On the segmental front, revenue from Communications and signal processing products was Rs 54.57 crore (up 50.4% YoY) and that from Health Care was Rs 0.16 crore (up 32.3x YoY).

Profit before tax in Q2 FY24 stood at Rs 22.20 crore, up by 191.7% from Rs 7.61 crore in Q2 FY22.

The company's board has approved the issue of bonus shares in the ratio of 2:1 i.e., 2 equity shares for every 1 equity share held by the equity shareholder of the company as on a record date to be fixed thereon.

The bonus shares will be issued out of free reserves and retained earnings available as at 30 September 2023, which amounted to Rs 119.43 crore. The quantum of funds required for implementing the said bonus issue is Rs 32.43 crore.

Avantel specializes in providing strategic solutions to the Indian Defence Services and related establishments. It has developed and manufactured various radio components and unique products su ch as Satellite Communications, HF Communications, Electronic Warfare, and Radar systems. Currently, Avantel is working on expanding its portfolio by developing SCA-compliant Software Defined Radios, High Power HF systems, Air Defence Radars, and Small Satellites.

Previous News
  Avantel
 ( Results - Analysis 20-Jan-25   09:02 )
  Avantel
 ( Results - Analysis 20-Jan-24   23:15 )
  Avantel announces board meeting date
 ( Corporate News - 25-Sep-24   10:42 )
  Avantel to discuss results
 ( Corporate News - 10-May-23   14:53 )
  Avantel soars after bagging Rs 9-cr contract from NewSpace India
 ( Hot Pursuit - 18-Sep-24   12:00 )
  Avantel standalone net profit rises 13.08% in the December 2021 quarter
 ( Results - Announcements 27-Jan-22   14:31 )
  Avantel wins order of Rs 67.92 cr
 ( Corporate News - 21-Aug-24   18:28 )
  Avantel standalone net profit rises 6.38% in the September 2021 quarter
 ( Results - Announcements 29-Oct-21   08:03 )
  Avantel rises on bagging $1.3 million contract from Lockheed Martin
 ( Hot Pursuit - 21-Mar-22   12:37 )
  Avantel to announce Quarterly Result
 ( Corporate News - 09-Jul-24   10:19 )
  Avantel bags order from Lockheed Martin Corporation
 ( Corporate News - 21-Mar-22   12:07 )
Other Stories
  Bharti Airtel records multi-fold jump in Q3 PAT to Rs 16,135 cr; ARPU rises to Rs 245
  06-Feb-25   18:03
  KPI Green Energy hits the roof after Q3 PAT zooms 67% YoY to Rs 85 cr
  06-Feb-25   16:00
  REC Q3 PAT climbs 23% YoY to Rs 4,076 cr; declares dividend of Rs 4.30/sh
  06-Feb-25   16:00
  Enviro Infra spurts after Q3 PAT soars to Rs 37 cr
  06-Feb-25   15:49
  NMDC Q3 PAT climbs 29% YoY to Rs 1,897 cr
  06-Feb-25   15:12
  SBI Q3 PAT climbs 84% YoY to Rs 16,891 crore in FY25
  06-Feb-25   15:05
  Mahanagar Telephone Nigam Ltd leads losers in 'A' group
  06-Feb-25   15:00
  BEML slides as Q3 PAT tumbles 49% YoY to Rs 24 cr
  06-Feb-25   14:50
  Shivalik Rasayan Ltd leads losers in 'B' group
  06-Feb-25   14:45
  Trent Q3 PAT grows 34% YoY to Rs 497 crore
  06-Feb-25   14:43
Back Top