CSIR Gives Paras Defense A Contract Worth Rs 64 Cr
- On the BSE, shares of Paras Defence and Space Technologies went down 0.64 percent to Rs 482.30.
- Paras Defence and Space Technologies works in three main areas: defence and space optics, defence electronics solutions
The aerospace and defence company said that the Council of Scientific and Industrial Research (CSIR)-National Aerospace Laboratories had given them an order for Avionics Suite for Saras MK-2 Aircraft worth about Rs 64 crore (NAL).
Avionics Suite for Saras MK-2 Aircraft will be delivered in FY-24, according to the PSU company.
Saras is the first Indian civilian light transport aircraft that can be used for more than one thing. It was designed by the CSIR-NAL.
Avionics Suite of Saras MK-2 Aircraft is the full glass cockpit of the plane, which includes all the equipment for control, monitoring, communication, navigation, weather, and anti-collision systems, as well as the Auto-Pilot System.
Paras Defence and Space Technologies works in three main areas: defence and space optics, defence electronics solutions, and heavy engineering. They offer high-precision products and turnkey solutions to the defence and space sector. As of December 31, 2022, the Indian government owned 58.94% of the business.
In Q3 FY23, the company’s consolidated net profit went up 27.25% to Rs 9.76 crore, while sales went up 31.09% to Rs 60.88 crore.
On the BSE, shares of Paras Defence and Space Technologies went down 0.64 percent to Rs 482.30.
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