Avantel jumped 5.31% to Rs 178.60 after the company said that it has received a purchase order worth of Rs 9.39 crore from NewSpace India.
The contract includes supply, installation and commissioning of ground segment hub. The said contract is expected to be executed by November 2025.
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 declined 7.9% to Rs 7.38 crore on 24.9% fall in net sales to Rs 51.76 crore in Q1 FY25 over Q1 FY24.
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