Paras Defence Q1 Results: Profit Nearly Triples To Rs 14.11 Crore

Paras Defence and Space Technologies Ltd. on Monday reported a 143% year-on-year advance in net profit for the first quarter of this financial year.

The defence products manufacturer recorded a net profit of Rs 14.11 crore for the quarter-ended June, as compared to Rs 5.81 crore in the same quarter of the previous fiscal, according to its stock exchange notification.

Revenue increased by 73% year-on-year for the three months ended June, reaching Rs 83.57 crore.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 123% year-on-year to Rs 24.12 crore. The Ebitda margin expanded to 28.9% from 22.4% in the same period the previous year.

Shares of the company were trading 3.10% higher at Rs 1,288 per share, as compared to a 2.68% decline in the NSE Nifty 50. The stock has risen 70.47% year-to-date and 104.71% over the past 12 months.