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Data Patterns (India) Ltd reported a 85 per cent increase in net profit at ₹26 crore for the first quarter ended June 30, 2023 against ₹14 crore in the same quarter last year. Revenue was up 45 per cent at ₹101 crore (₹70 crore).
The Chennai-based company is a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously- developed defence products industry.
The company in a release said as on June 30, 2023 it had orders on hand worth ₹967 crore and orders negotiated and yet to be received were at ₹93 crore. If all the projects where negotiations are completed are converted into orders, the order book will be ₹1,066 crore, release said.
Srinivasagopalan Rangarajan, Chairman & Managing Director, Data Patterns (India) Ltd, said, “We are pleased to announce another strong quarter with impressive results. I’m also happy to share that, out of ₹500 crore raised in QIP, we have started our product development endeavours in line with the offer document for radars, communication systems, electronic warfare and satellite. The focus on product development will allow Data Patterns to address the growing Made in India defence opportunities”
Data Patterns’ stock price closed at ₹2026.60 apiece, up ₹11.95 or 0.59 per cent, on the BSE.
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