800 per cent returns: This multibagger telecom infrastructure company reports 155.47 per cent growth in net sales!

In Q4FY23, the company reported an 82.86 per cent increase in net profit YoY.

Avantel Ltd announced Q1FY24 results on Thursday. The company posted impressive Quarterly Results. The revenue of the company stood at Rs 68.95 crore which grew by 155.47 per cent YoY. The operating profit of the company stood at Rs 14.46 crore, while the PAT of the company stood at Rs 8.01 crore, representing an impressive growth of 82.86 per cent YoY.

Avantel Limited has also delivered multibagger returns to its shareholders. During this period, the company’s share price jumped from Rs 89.61 on July 17, 2020, to Rs 816.40 on July 13, 2023, an increase of about 800 per cent in three years holding period. While in the last one year, the stock has gained more than about 200 per cent.

Avantel Ltd specializes in microwave subsystems, digital radios, and satellite communication systems, and offers related software solutions and services. It supplies mainly to defence establishments and allied departments in the public and private sectors. The company has its registered headquarters, manufacturing facility, and R&D facility at Vishakapatnam. The company maintains healthy and long-term relationships of over two decades with a reputed clientele that includes the Indian Army, Indian Railways, Indian Air Force, Indian Navy, ISRO, DRDO, Goa Shipyard Limited, The Boeing Company, Larsen & Toubro Limited (L&T), etc.

On Friday, the stock opened at Rs 891.00, with a high and low of Rs 900.00 and Rs 801.10. The stock closed trading at Rs 816.40, down by 8.34 per cent.

The stock has shown tremendous growth, and investors should keep a close eye on this stock.