Data Patterns (India) Ltd reports 81.7% rise in Q1 PAT

Chennai: Data Patterns (India) Ltd has reported an 81.7 per cent jump in its April-June 2023 profit after tax at Rs 25.83 crore, the company said on Wednesday.

The city-based, integrated defence and aerospace electronics solutions provider, has reported a profit after tax at Rs 14.21 crore during the corresponding quarter of previous year.

Total revenue during the quarter under review grew to Rs 101.30 crore from Rs 70.08 crore registered in the same period of last year.

The company's Earnings before Interest, Tax, Depreciation and Amortisation (operational EBITDA) during the quarter under review increased by 31 per cent, to Rs 27.83 crore from Rs 21.25 crore registered in the same quarter of last financial year.

"We are pleased to announce another strong quarter with impressive results. I am also happy to share that out of the 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," company Chairman and Managing Director, Srinivasagopalan Rangarajan said on the financial performance.

The focus on product development would allow Data Patterns to address the growing 'Made in India' Defence opportunities, he said.