Avantel zoomed 6.81% to Rs 122.40 after the company said that it has received a supply order worth of Rs 109.76 crore from Ministry of Defence, Government of India.
The contract is for the supply of SATCOM equipment. The said contract has to be executed within a period of 12 months.
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 such 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.
The company's consolidated net profit jumped 26.17% to Rs 12.15 crore despite a 20.50% fall in revenue to Rs 41.76 crore in Q4 FY24 over Q4 FY23.
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