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Hot Pursuit
01-Apr-24
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Astro Microwave rallies after bagging multiple orders worth Rs 441 cr
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Astra Microwave Products jumped 5.16% to Rs 626.45 after the company has received orders aggregating to Rs 441.58 crore.
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The company has received orders worth Rs 56 crore from Hindustan Aeronautics (HAL) for supply, installation, testing and commissioning of precision approach radar (PAR) system. The said order will be completed within 10 months.
Meanwhile, the company has also received orders worth Rs 385.58 crore from Bharat Electronics, Ghaziabad for supply of MPR sub systems. The said order will be completed within 36 months.
Astra Microwave Products designs and manufactures high-value-added RF and microwave super components and sub-systems that find application in defence, space, and civil communication systems.
The company’s consolidated net profit jumped 56.7% to Rs 43.38 crore in Q3 FY24 as compared with Rs 27.68 crore in Q3 FY23. Revenue from operations increased 4.9% YoY to Rs 231.02 crore in Q3 FY24.
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