Data Patterns shares rise 12% in 6 days after growth in Q4 net profit

Shares of Data Patterns (India) Ltd, a defence and aerospace electronics solutions provider, jumped over 5% in trade on Thursday, May 23, following the positive momentum after strong Q4 results.

The stock has jumped nearly 12% in the past six trading sessions, since the closing price on May 15, on the back of strong earnings for the quarter ended March 2024.

The Data Patterns stock jumped as much as 5.4% on Thursday to hit an intraday high of ₹3,215 per piece on the NSE. Earlier this week, on May 21, the stock had hit its 52-week high of ₹3,443.9 apiece. The company announced its Q4 results on May 18.

The Data Patterns stock has been a consistent outperformer, rallying nearly 72% in the past six months and doubling in the past one year.

Last week, Data Patterns announced that its total revenue for Q4FY24 increased 29% sequentially to ₹195 crore from ₹151 crore in Q3FY24.

Operating profit, or earnings before interest, tax, depreciation and amortisation (Ebitda), grew 55% to ₹93 crore in Q4FY24 as against ₹60 crore in the preceding quarter.

Data Patterns’ profit after tax (PAT) for the March quarter was ₹71 crore as against ₹51 crore in the previous quarter, an increase of 40%.

For full fiscal 2023-24, total revenue increased 22% to ₹566 crore from ₹463 crore in 2022-23. EBITDA grew 29% to ₹222 crore as against ₹172 Cr in FY23. PAT was ₹182 crore in FY24, up 47% from ₹124 crore in FY23.

The board had also recommended a final dividend of ₹6.50 per share (325% per equity share of ₹2 each).

Data Patterns also informed that its order book as on March 2024 stood at ₹1,083.01 crore. The company said it had secured more than ₹670 crore of orders during FY 2023-24.

Shares of Data Patterns were trading 2.81% higher at ₹3,136.35 apiece on the NSE at 11 am.