AMS net profit nearly doubles in September quarter, revenue rises 40%

AMS reports September quarter results. 

Apollo Micro Systems (AMS) reported that its consolidated net profit for the July–September quarter nearly doubled to Rs 31.11 crore, up 98.2 percent from Rs 15.7 crore in the corresponding period last year.

Revenue from operations rose 40.2 percent to Rs 225.3 crore during the quarter, the company said in a statement. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 82.7 percent to Rs 59.59 crore, while EBITDA margin improved to 26.45 percent from 20.29 percent a year ago.

On October 29, the company said it had received cumulative orders worth Rs 18.43 crore from the Defence Research and Development Organisation (DRDO), defence public sector undertakings, and private firms.

Earlier, on October 16, AMS was declared the lowest bidder (L1) by DRDO for contracts valued at Rs 4.3 crore and by defence public sector undertakings for projects worth Rs 34.97 crore, taking the total L1 value to Rs 39.27 crore.

The company has also received approval from DRDO for the Transfer of Technology (ToT) of the Mechatronic Fuze for Grenade, which it said will enhance its indigenous defence manufacturing capabilities.

Shares of the company were trading lower at Rs 270.3 per share on the NSE, down 2.73 percent at around 12:30 pm.

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