Paras Defence and Space Technologies (PARAS) Q3 23/24 earnings summary

Executive summary

• Q3 FY24 consolidated revenue was ₹6,418 lakh vs ₹6,088 lakh YoY, while profit for the period fell to ₹586 lakh from ₹917 lakh; owner-attributable profit was ₹666 lakh vs ₹976 lakh.

• For 9M FY24, consolidated revenue was ₹17,381 lakh vs ₹15,733 lakh, while profit for the period was ₹2,043 lakh vs ₹2,411 lakh.

• The Board approved unaudited standalone and consolidated results for the quarter ended Dec. 31, 2023; auditors issued unmodified review conclusions.

Financial highlights

• Q3 standalone revenue was ₹6,279 lakh vs ₹6,012 lakh YoY; profit for the period was ₹760 lakh vs ₹1,051 lakh.

• Q3 consolidated profit before tax was ₹836 lakh vs ₹1,298 lakh YoY; 9M consolidated PBT was ₹2,836 lakh vs ₹3,398 lakh.

• 9M standalone revenue was ₹16,731 lakh vs ₹15,623 lakh, and profit for the period was ₹2,390 lakh vs ₹2,707 lakh.

Segment performance

• Q3 consolidated Optics and Optronic Systems revenue was ₹1,615 lakh vs ₹1,927 lakh YoY; segment result was ₹540 lakh vs ₹1,289 lakh.

• Q3 consolidated Defence Engineering revenue was ₹4,803 lakh vs ₹4,161 lakh YoY; segment result was ₹1,152 lakh vs ₹1,069 lakh.

• 9M consolidated revenue was ₹5,778 lakh in Optics and Optronic Systems and ₹11,603 lakh in Defence Engineering; segment results were ₹2,815 lakh and ₹2,487 lakh, respectively.

• Reporting changed from three prior segments to Optics and Optronic Systems and Defence Engineering; comparative figures were regrouped.