Paras Defence and Space Technologies rallied 3.45% to Rs 1,295 after the company reported a consolidated net profit of Rs 14.85 crore in Q1 FY25, steeply higher than Rs 6.01 crore posted in Q1 FY24.
Revenue from operations soared 72.95% to Rs 83.57 crore in Q1 FY25 as against with Rs 48.32 crore recorded in corresponding quarter last year.
Profit before tax surged to Rs 19.50 crore in the June quarter as compared to 7.83 crore reported in Q1 FY24.
Total expenses spiked 56.34% year on year to Rs 64.63 crore in Q1 FY25. Cost of material consumed stood at Rs 28.79 crore (up 109.38% YoY), employee benefit expenses were at Rs 8.83 crore (up 19.97% YoY) during the quarter.
The companys revenue from optics and optronic systems stood at Rs 38.57 crore (up 101.52% YoY) while income from defence engineering was at Rs 45 crore (up 54.22% YoY) during the period under review.
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 30 June 2024, the Government of India held 58.94% in the company.
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