Shares of Data Patterns jumped nearly 4 percent in trade on August 9, after the company reported robust Q1 results. At 12:54 pm, Data Patterns' stock was trading 3.74 percent higher at Rs 2,107.40 on the NSE.
The defence and aerospace electronics solutions provider has recorded consolidated profit at Rs 25.83 crore for the quarter ended June FY24, rising 81.4 percent over a year-ago period, driven by higher other income and top line numbers. Revenue during the quarter grew by 31.2 percent year-on-year to Rs 89.7 crore, while other income stood at Rs 11.61 crore for the quarter against Rs 1.7 crore in same period last fiscal.
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Management Commentary
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 Rs 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.”
Stock Performance
Data Patterns stock has given a return of 43.73 percent over the last six months because of that the stock has outperformed the Nifty50 benchmark index by a considerable margin. As the benchmark Nifty50 index has given a return of 9.24 percent over the same duration.
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