Shares of Aerospace and Defence, Avantel Ltd, skyrocketed 14% on 25 March after the firm reported that it had acquired a contract from Zetwerk Manufacturing Businesses worth Rs 459.90 crore (without taxes).

According to the company’s regulatory filing, the deal comprises the provision of satellite communication equipment, one year of full onsite warranty, and five years of comprehensive annual maintenance contract (AMC) support.

The deal, which falls under manufacturing and AMC services, will be fulfilled over a three-year period. The company also stated that the deal does not constitute related party transactions and that its promoter group has no stake in the awarding organisation.

In January, the company stated that its consolidated net profit for the third quarter of FY26 (Q3FY26) plummeted 86.35% year-on-year (Y-o-Y) to Rs 2.74 crore, as against Rs 20.08 crore reported in the corresponding quarter of the previous fiscal year.
 
In Q3FY26, the company’s revenue from operations decreased by 26.84% year on year to Rs 51.71 crore from Rs 70.68 crore in Q3FY25, according to an exchange filing.

At 12:25 pm, the shares of Avantel were trading 11.05% higher at Rs 134.41 on NSE. 

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