1500 per cent returns: This multibagger telecom equipment company bags new order worth Rs 7.03 crores; reports 155 per cent jump in net sales!

The company has delivered an 82 per cent profit growth on a YoY basis in Q1FY24.

Avantel Limited informed in the exchange filing that the company had received a work order worth Rs 7.03 crore. The order is from Material Organisation, Visakhapatnam for the supply of MSS TX – RX Terminals M-II.

The company posted strong Quarterly Results. The company's revenue 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 growing by 93.08 per cent YoY, while the PAT of the company stood at Rs 8.01 crore, with an increase of 82.86 per cent.

Avantel is actively involved in the design and development of products based on high-power broadband wireless, satellite communication and broadband access technologies. The design, development and integration of wireless and access products are carried out using standard and proprietary software tools.

The company’s R&D centre comprises a 40-member team of engineers which is recognized by the Department of Scientific and Industrial Research, Government of India, as a research and development centre for technology development in telecommunications.

Avantel Limited has delivered multibagger returns of over 280 per cent in the last one year. While in the last five years, the stock has gained over 1580 per cent.

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

Disclaimer: The article is for informational purposes only and not investment advice.