The company's revenue from operations jumped 42.5% YoY to Rs 77.42 crore in Q2 FY25. Profit before tax (PBT) stood at Rs 31.50 crore in Q1 FY25, up 41.89% as compared with Rs 22.20 crore in Q2 FY24. Total expenses increased 42.71% YoY to Rs 46.41 crore in Q2 FY25. Cost of material consumed stood at Rs 25.77 crore (up 82.38% YoY), employee benefit expense stood at Rs 16.08 crore in Q2 FY25 (up 82.31% YoY) while finance cost was at Rs 0.71 crore (down 52.98% YoY) during the period under review. Avantel specializes in providing strategic solutions to the Indian Defence Services and related establishments. It has developed and manufactured various radio components and unique products such as satellite communications, HF communications, electronic warfare, and radar systems. Currently, Avantel is working on expanding its portfolio by developing SCA-compliant software defined radios, high power HF systems, air defence radars, and small satellites. The scrip shed 0.78% to settle at Rs 178.40 on Friday, 4 October 2024Powered by Capital Market - Live

Net profit of Avantel rose 42.50% to Rs 22.90 crore in the quarter ended September 2024 as against Rs 16.07 crore during the previous quarter ended September 2023. Sales rose 42.50% to Rs 77.42 crore in the quarter ended September 2024 as against Rs 54.33 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales77.4254.33 42 OPM %44.8145.92 - PBDT34.4623.84 45 PBT31.5022.20 42 NP22.9016.07 43 Powered by Capital Market - Live

The key equity indices traded with decent losses in early trade. The Nifty traded below the 26,100 level. Metal, FMCG and consumer durables shares advanced while auto, realty and oil & gas stocks declined. At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 458.61 points or 0.54% to 85,118.46. The Nifty 50 index slipped 128.90 points or 0.49% to 26,050.05. In the broader market, the S&P BSE Mid-Cap index fell 0.40% and the S&P BSE Small-Cap index shed 0.41%. The market breadth was negative. On the BSE, 1,314 shares rose and 1,780 shares fell. A total of 162 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 1,209.10 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,886.65 crore in the Indian equity market on 27 September 2024, provisional data showed. Economy: India's foreign exchange reserves climbed for the sixth consecutive week to a record high of $692.3 billion as of September 20, according to data released by the Reserve Bank of India on Friday (September 27). The reserves increased by $2.84 billion during the week, following a total rise of $19.3 billion over the previous five weeks. Foreign currency assets, the largest component of the reserves, rose to $605.7 billion from $603.6 billion in the previous week. Gold reserves increased, climbing to $63.6 billion from $62.9 billion. Special Drawing Rights (SDRs) stood at $18.5 billion, up from $18.4 billion. Meanwhile the reserve tranche position with the International Monetary Fund (IMF) fell slightly to $4.46 billion from $4.52 billion. Stocks in Spotlight: Avantel zoomed 9% after the company informed that it has received a purchase order for an amount of Rs 44.49 crore from Larsen & Toubro (L&T) for the supply of satcom systems. Bajel Projects advanced 4.09% after the company announced that it had successfully entered the emerging data centre segment by securing its first order from an upcoming data centre service provider. Numbers to Track: The yield on India's 10-year benchmark federal paper advanced 1.51% to 6.861 as compared with previous close 6.759. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.7575, compared with its close of 83.6975 during the previous trading session. MCX Gold futures for 4 October 2024 settlement rose 0.39% to Rs 75,151. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 100.46. The United States 10-year bond yield added 0.24% to 3.761. In the commodities market, Brent crude for November 2024 settlement added 6 cent or 0.08% to $72.04 a barrel. Global Markets: Asian stocks traded mixed on Monday as Middle East tensions offset China's stimulus measures. The Nikkei plunged on concerns about Japan's new prime minister favoring higher interest rates. The Shanghai Composite surged over 4%, extending last week's 13% rally. China's central bank announced plans to reduce mortgage rates for existing home loans by the end of October, likely by an average of 50 basis points. This move is part of Beijing's largest stimulus package since the pandemic, which includes a range of monetary, fiscal, and liquidity support measures. Despite the stimulus, China's Caixin Manufacturing PMI declined from 50.4 in August to 49.3 in September, indicating a return to contraction. The manufacturing sector deteriorated in September after improving the previous month. Meanwhile, ongoing Israeli strikes in Lebanon increased geopolitical uncertainty. In the United States, the Dow closed at a record high on Friday, shrugging off tech sector volatility. Surging energy stocks and signs of cooling inflation boosted investor sentiment. The 30-stock Dow Jones Industrial Average gained 0.3%, reaching a new closing record of 42,313. The benchmark S&P 500 fell 0.2%, and the tech-heavy Nasdaq Composite was down 0.4%. The US Personal Consumption Expenditures index, the Fed's preferred inflation measure, showed that annual inflation decreased to 2.2% in August from 2.5% the month before. Fed Chair Jerome Powell is scheduled to deliver a closely watched speech on Monday.Powered by Capital Market - Live

Shares of Larsen & Toubro (L&T) fell 0.33% to currently trade at Rs 3,693.45 on the BSE. The contract includes supply of satcom systems. The said contract is expected to be executed by March 2025. Avantel specializes in providing strategic solutions to the Indian Defence Services and related establishments. It has developed and manufactured various radio components and unique products such as satellite communications, HF communications, electronic warfare, and radar systems. Currently, Avantel is working on expanding its portfolio by developing SCA-compliant software defined radios, high power HF systems, air defence radars, and small satellites. The company's consolidated net profit declined 7.9% to Rs 7.38 crore on 24.9% fall in net sales to Rs 51.76 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live

Avantel has received a purchase order worth of Rs.44.49 crore from Larsen & Toubro for satcom systems. Powered by Capital Market - Live

Avantel has received a purchase order worth Rs 3.45 crore from Bharat Electronics for supply of satcom equipment. Powered by Capital Market - Live

Avantel will hold a meeting of the Board of Directors of the Company on 5 October 2024.Powered by Capital Market - Live

Avantel will hold a meeting of the Board of Directors of the Company on 5 October 2024.Powered by Capital Market - Live

Avantel has received an order of Rs 9.39 crore from NewSpace India for supply, installation and commissioning of ground segment hub. Powered by Capital Market - Live

Net profit of Avantel declined 7.87% to Rs 7.38 crore in the quarter ended June 2024 as against Rs 8.01 crore during the previous quarter ended June 2023. Sales declined 24.93% to Rs 51.76 crore in the quarter ended June 2024 as against Rs 68.95 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales51.7668.95 -25 OPM %27.3620.67 - PBDT13.8212.97 7 PBT10.9611.40 -4 NP7.388.01 -8 Powered by Capital Market - Live