Avantel soars after bagging supply contract from ISRO's commercial arm NSIL

Avantel jumped 8.73% to Rs 116.40 after the company announced that it has bagged a new order from NewSpace India for supply, installation and commissioning of devices for Xponders.

The total value of the aforementioned contract is Rs 43.25 crore.

NewSpace India (NSIL) is the commercial arm of Indian Space Research Organisation (ISRO). It is categorized as a schedule 'A CPSE by Department of Public Enterprises (DPE). The companys mandate to commercially exploit the products and services emanating from the Indian Space Programme and serving domestic and global customers, as well as enable Indian Industries to scale up high-technology manufacturing base for space programme through technology transfer mechanisms.

 

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 had reported 23% increase in consolidated net profit to Rs 20.08 crore in Q3 FY25 as compared with Rs 16.32 crore posted in Q3 FY24. Revenue from operations rose 19.1% YoY to Rs 70.68 crore in the quarter ended 31 December 2024.

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