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2 min read | Updated on August 16, 2024, 16:55 IST
SUMMARY
The order includes the manufacturing and supply of 244 Sight – 25HD EO (Electro-Optics) Systems, along with extended warranty charges and an Integrated Logistics Support (ILS) package, for L&T’s Close-In Weapon System (CIWS) programme, the company informed the bourses.
The defence sector stock has gained 79% the past 12 months and 68% year-to-date.
The order includes the manufacturing and supply of 244 Sight – 25HD EO (Electro-Optics) Systems, along with extended warranty charges and an Integrated Logistics Support (ILS) package, for L&T’s Close-In Weapon System (CIWS) programme, the company informed the bourses.
The order will be executed within 47 months, according to Paras Defence.
The company's consolidated net profit surged 142.85% year-on-year to ₹14.11 crore in the June quarter, compared to ₹5.81 crore in the same period a year ago. Sequentially, the company’s net profit also increased 46.97% from ₹9.6 crore in Q4FY24.
The defence technology firm’s total income rose 70.82% to ₹84.15 crore in the June quarter compared to ₹49.26 crore a year ago. On a quarter-on-quarter basis, the company’s total income declined 1.19% from ₹85.17 crore compared to the preceding quarter.
In the Optics and Optronic systems category, the revenue from the operations grew by 101.15% year-on-year to ₹38.57 crore in the June quarter, compared to ₹19.14 crore in the same period a year ago.
For the defense engineering segment, the revenue from operations rose 54.21% to ₹45 crore in the June quarter compared to ₹29.18 crore a year ago.
Paras Defence and Space Technologies Limited shares opened 4.27% higher at ₹1,200 apiece on the NSE on Friday. However, the stock touched an intraday low of ₹1,190.85 apiece, but managed in the morning session to bounce back rising 5% to hit the upper circuit limit.
The defence sector stock has gained 79% the past 12 months and 68% year-to-date.
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