Avantel secures a coast guard contract worth Rs.54.38 Crore; Stocks skyrockets

12 Jun 2023 , 10:40 AM

The contract entails specific services and has a deadline of September 2024. A board of directors meeting is scheduled for June 23 to discuss and approve the proposal for sub-division/split of equity shares, currently valued at Rs.10 each fully paid-up.

As per data, Avantel reports a 59% jump in net profit for the quarter ended March 2023, amounting to Rs9.69 crore compared to Rs6.08 crore in the previous year The company’s revenue also grew by 12.4% to reach Rs52.53 crore, up from Rs46.71 crore year-on-year.

At the time of writing, Avantel shares are quoted at Rs 632.50, a 5.71% increase, and reached a 52-week high.