In a regulatory filing made on Sunday (September 8), the company stated that its subsidiary Nibe Space has signed a memorandum of understanding (MoU) with leading infra & defence companies and start-ups of India to collaborate as a consortium. The entities that are a part of this consortium are Larsen & Toubro, Centum Electronics, Space Fields, SISIR Radar, CYRAN AI Solutions, AgniKul Cosmos, DV2JS Innovation, Thales Alenia Space and Thales India. The consortium would supply equipment, services, skills, systems and support services, etc. for its aim to build and operate a Private Earth Observation Constellation & corresponding ground segment to provide constellation on lease basis, offer images and analytics as a service. The MOU is valid for a period of 12 to 24 months. The company would sign and execute comprehensive, long term definitive agreement within the time period after due negotiations and discussion with each of the party as stated above. NIBE trades in electronic components, fabrication materials, and provides technical consultancy. It also provides services for the design, supply, erection, testing, and commissioning of low and medium voltage lines and substations on a turnkey basis. The company's consolidated net profit surged to Rs 7.91 crore in the quarter ended June 2024 as against Rs 0.82 crore during the previous quarter ended June 2023. Sales rose to Rs 110.06 crore in Q1 FY25 from Rs 25.80 crore in Q1 FY24. Powered by Capital Market - Live

Nibe Space, a subsidiary of NIBE has signed Memorandum of Understanding with leading infra & Defence companies and startups of India to collaborate as a consortium for supply of equipment, services, skills, systems and support services etc. for its aim to build and operate a Private Earth Observation Constellation & corresponding ground segment to provide constellation on lease basis, offer images and analytics as a service. Powered by Capital Market - Live

NIBE announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2024.Powered by Capital Market - Live

Nibe announced the resignation of Ravikumar Pareek from the post of Chief Financial Officer of the company with effect from 31 August 2024. Powered by Capital Market - Live

NIBE has received two purchase orders from one of the leading infra and defence company for supply of FCR trailers and shelters including surface treatment and air conditioning for a total consideration of Rs. 79.63 crore. Powered by Capital Market - Live

Net profit of NIBE rose 864.63% to Rs 7.91 crore in the quarter ended June 2024 as against Rs 0.82 crore during the previous quarter ended June 2023. Sales rose 326.59% to Rs 110.06 crore in the quarter ended June 2024 as against Rs 25.80 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales110.0625.80 327 OPM %13.9612.21 - PBDT14.852.50 494 PBT10.941.45 654 NP7.910.82 865 Powered by Capital Market - Live

NIBE will hold a meeting of the Board of Directors of the Company on 13 August 2024.Powered by Capital Market - Live