The company's board approved issuing 3 bonus shares for each share held (3:1).
The board of Avantel on 6 May 2022, also recommended a final dividend of Rs 4 per share.Meanwhile, the company's consolidated net profit rose 6.68% to Rs 6.07 crore on 60.70% increase in net sales to Rs 46.70 crore in Q4 March 2022 over Q4 March 2021. Profit before tax (PBT) jumped 18.81% year-on-year (YoY) to Rs 7.96 crore in Q4 March 2022.
During the quarter, total expenses climbed 72.31% to Rs 39.27 crore. Cost of material consumed soared 263.54% to Rs 23.23 crore while employee expense jumped 44.92% to Rs 3.71 crore.
The net profit rose 17.22% to Rs 17.97 crore on 35.09% rise in net sales to Rs 104.94 crore in the year ended March 2022 over the year ended March 2021. PBT climbs 28% YoY to Rs 23.64 crore in FY22.
Avantel specializes in integrating technologies related to wireless front-end, satellite communication, embedded systems, signal processing, network management and software development.
Shares of Avantel fell 1.57% to settle at Rs 1346.85 on Friday, 6 May 2022.
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