Apollo Micro Systems Says Its Net Profit Doubled Aided By Higher Income

Apollo has said that it reported a total income of Rs 87.57 crore, which is around 50 per cent up from Rs 52.39 crore reported during a year ago. The expenses in quarter were Rs 78.68 crore against Rs 47.47 crore in the year-ago period.

Stock Market News: Apollo Micro Systems Limited, an aerospace and defense company, has said that its net profit in the quarter that ended on September 30, 2023, more than doubled led by aided by higher income.

According to a stock exchange filing, the Hyderabad-based company’s standalone net profit during the September quarter doubled to Rs 7 crore.

The company added that it reported a total income of Rs 87.57 crore, which is around 50 per cent up from Rs 52.39 crore reported during a year ago. The expenses in quarter were Rs 78.68 crore against Rs 47.47 crore in the year-ago period.

The company added that its revenue from operations surged more than 55 per cent to Rs 87.16 crore from Rs 56.27 crore in the year-ago period. In the first quarter of the current financial year, the company’s revenue was seen at Rs 57.69 crore.

AMSL offers technology-based solutions in sectors like infrastructure, transportation, and aerospace and defence.

Apollo Micro Systems was founded in 1985. Initially, it started its journey by offering design services to space (ISRO). It offers complete platform-level solutions, from the development stage to manufacturing, such as underwater mines.

It also provides solutions for the railways, automotive, and homeland security markets. It is recognised as a Collaborative R&D Partner by Bharat Electronics Limited. AMS offers Build to Specifications, Build to Print, and New Product Introduction Services.

The company has also missiles dedicated product portfolio. It has has participated in 55-60 programs, catering to Missiles, Naval Torpedoes and Underwater Mines.