Paras Defence and Space Technologies rallied 5.09% to Rs 902.75 after the company's consolidated net profit jumped 63.82%to Rs 96 crore in Q4 FY24 as compared with Rs 58.6 crore in Q3 FY24.
Revenue from operations increased by 24.17% QoQ to Rs 79.69 crore in Q4 FY24.Year on year (YoY) basis, the companys net profit declined 18.92% and revenue jumped 22.41% in Q4 FY24.
Total expenses jumped 37.98% YoY to Rs 73.09 crore in Q4 FY24. Cost of material consumed stood at Rs 40.63 crore ( up 93.85% YoY), employee benefit expenses was at Rs 8.26 crore ( up 33.01% YoY), finance cost was at Rs 2.26 crore (up 6.1% YoY).
Paras Defence and Space Technologies offers high precision products and turnkey solutions to the defense and space sector, operating in three main verticals defence and space optics, defence electronics solutions, and heavy engineering. As on 31st March 2024, the Government of India held 58.94% in the company.
The counter hit a 52-week high at Rs 912.75 in intraday today.
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