Astra Microwave's March quarter profit increases y-o-y by 4 times to Rs 54 crore

28 May 2024 , 09:54 AM

Shares of Astra Microwave Products surged over 14%, reaching a new record high of ₹914 on May 27. The company’s net profit for the January-March quarter of FY24 increased over four-fold, hitting ₹54 Crore, compared to ₹13 Crore in the same quarter the previous year.

Revenue grew nearly 38% year-on-year, reaching ₹354 Crore in Q4 FY24, up from ₹258 Crore in Q4 FY23. EBITDA margin rose significantly to 22.8% in the March quarter, compared to 13.3% a year earlier.

At the time of writing, the shares of Astra Microwave were trading at ₹822 which is a 0.52% gain than the previous close. The stock has gained 161.14% in the last one year and gained 45% since the beginning of the year.

S G Reddy, Managing Director, highlighted enhanced product mix and increased profitability, reflected in the current order book.

In Q4 FY24, space orders accounted for 14% of revenue, up from 6% in the previous quarter; the company plans a ₹40 Crore investment to expand this segment. The company’s order book stood strong at ₹2,299 Crore as of March 31, including ₹105 Crore in service orders; orders booked in FY24 totaled ₹1,636 Crore.

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