The contract includes supply of satcom systems. The said contract is expected to be executed by March 2025.
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's consolidated net profit declined 7.9% to Rs 7.38 crore on 24.9% fall in net sales to Rs 51.76 crore in Q1 FY25 over Q1 FY24.
Shares of Avantel shed 0.64% to Rs 171.60 while Larsen & Toubro (L&T) slipped 1.49% to Rs 3,705.80 on Friday, 27 September 2024.