Data Patterns Ltd posts 61 per cent rise in Q2 profit at Rs 33.79 crore

Data Patterns (India) Ltd, a defence and aerospace electronics solutions provider, has reported a profit for the July-September 2023 quarter at Rs 33.79 crore.

The company registered a profit of Rs 21.05 crore during the corresponding quarter of last year.

For the six-month period ended September 30, 2023, the profit grew to Rs 59.62 crore, from Rs 35.29 crore registered during the corresponding period of last year, the Chennai-headquartered company said in a press release here. Total income during the quarter under review went up to Rs 119.15 crore, from Rs 90.01 crore registered in the same period of last year.

For the half-year ended September 30, 2023, the total income surged to Rs 220.45 crore, from Rs 160.08 crore registered in the corresponding period of last year. "We are happy to announce strong revenues and order inflow for Q2 and H1FY24. Revenues in Q2 were in-line with our expectations...The order book also saw growth, reaching Rs 10 billion...," said company Chairman and Managing Director Srinivasagopalan Rangarajan on the financial performance.

"We are committed to continued investments in product development to capitalise on the larger opportunities coming in through defence programmes run by GoI", he added.