On January 8, 2025, Paras Defence share price extended the gains for the 2nd straight day by zooming over 6% and reached the day high of ₹1,153.25 at 10:15. The increase in Paras Defence share price follows the previous day gain of ~10%. As a result, Paras Defence share has surged over 16% in the last 2 trading sessions.
The gain in Paras Defence shares came due to the receipt of a License under the Arms Act, 1959, which allows the company to manufacture MK-46 and MK-48 Belt-fed Light Machine Gun (LMG) – Modernised Enhanced and Redefined LMG with a proposed annual capacity of 6,000 nos each.
During Q2 FY25, Paras Defence and Space Technologies reported a 45% YoY increase in net profit, which reached ₹12.7 crore, up from ₹8.76 crore in the corresponding quarter of the previous fiscal year. Revenue for the period also grew by 42% YoY, totalling ₹87.09 crore.
Paras Defence and Space Technologies Ltd is engaged in the designing, development, and manufacturing of defence and aerospace technology products. The company offers a wide range of products including defence electronics, space components, and equipment related to surveillance, communication, and navigation.
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Published on: Jan 8, 2025, 10:28 AM IST
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