The Aerospace and defense company announced that it has secured an order around Rs 64 crore for Avionics Suite for Saras MK-2 Aircraft from Council of Scientific & Industrial Research (CSIR)- National Aerospace Laboratories (NAL).
The PSU company said that the diliveries of Avionics Suite for Saras MK-2 Aircraft are to be done in FY-24.
Saras is the first Indian multi-purpose civilian aircraft in the light transport aircraft category as designed by the CSIR-NAL.
Avionics Suite of Saras MK - 2 Aircraft is the complete glass cockpit of the aircraft, including all the equipment related to control, monitoring, communication, navigation, weather and anticollision systems along with Auto-Pilot System.
Paras Defence and Space Technologies offers high precision products and turnkey solutions to the defense and space sector, operating in three main verticals - defence and space optics, defence electronics solutions, and heavy engineering. As on 31 December 2022, the Government of India held 58.94% in the company.
The company's consolidated net profit rose 27.25% to Rs 9.76 crore on a 31.09% increase in sales to Rs 60.88 crore in Q3 FY23 over Q3 FY22.
Shares of Paras Defence and Space Technologies fell 0.64% to Rs 482.30 on the BSE.
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