Magellanic Cloud soars after subsidiary bags contract for supplying drones

Magellanic Cloud jumped 8.64% to Rs 72.08 after the company said that its subsidiary Scandron has received an order for supply of drones.

The basic value of the aforementioned contract is Rs 5 crore.

The announcement was made during market hours today.

Magellanic Cloud specializes in offering services pertaining to software development, digital transformation, generative artificial intelligence (GenAI), the internet of things (IoT), e-surveillance and advanced drone-based applications

The company's consolidated net profit had declined 42.63% to Rs 22.33 crore despite a 13.95% increase in revenue to Rs 156.35 crore in Q4 FY25 as compared with Q4 FY24.

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