Shares of Paras Defence & Space Technologies Ltd. fell as much as 5% after reporting its June quarter results on Friday, July 25, which were weak on the operational front.The company’s net profit remained flat at ₹15 crore, which was nearly the same figure it reported during the year-ago quarter.
Revenue for the quarter increased by 11.5% from last year to ₹93.2 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 8.7% from the year-ago period to ₹22 crore, while margins narrowed by over 500 basis points to 23.6% from 28.8% last year.The company’s Optics and Optronic Systems increased to ₹42.5 crore from ₹38.5 crore last year, while the Defence Engineering segment to ₹50.7 crore from ₹45 crore.
Revenue for the quarter increased by 11.5% from last year to ₹93.2 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 8.7% from the year-ago period to ₹22 crore, while margins narrowed by over 500 basis points to 23.6% from 28.8% last year.The company’s Optics and Optronic Systems increased to ₹42.5 crore from ₹38.5 crore last year, while the Defence Engineering segment to ₹50.7 crore from ₹45 crore.
In an interaction with CNBC-TV18 on June 20, Paras Defence Director Amit Mahajan said that they are highly involved in the supply of components for the Air Defence Systems.
Shares of Paras Defence are down 3% after the results announcement, currently trading to ₹785. The stock is down from is 52-week high of ₹785.
