The Indian Air Force has signed a contract with Bharat Electronics for the procurement of Light Weight Man Portable modern communication sets. Bharat Electronics is involved in the business of aerospace and defence manufacturing.
These indigenous software-designed radios (SDR) technology-based sets will not only boost the IAF's communication network but also further the government's push on Atmanirbhar Bharat for defence indegenisation.
The contract will also give a push to the company's order book which stood at Rs 76,217 crore as of January 1.
The company also released its Q3 earnings two weeks ago which saw its net profit rise 40 percent on year to Rs 859.6 crore as against last year's Rs 613 crore.
Revenue however, was almost flat on year at Rs 4,162.2 crore, as against Rs 4,153 crore in the corresponding period of last fiscal.
EBITDA of the public sector undertaking company grew 24 percent to Rs 1,072.6 crore in the October-December while operating margin stood at 26 percent.
On February 9, shares of Bharat Electronics closed 2.25 percent lower at Rs 180.65 on the NSE.
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