Data Patterns shares slip 10% on Q2 earnings, check details 

Shares of Data Patterns (India) slipped over 10% on Monday after the aerospace and defence firm reported a 10% fall in Q2 profit. Data Patterns posted a profit of Rs 30.28 crore for the July-September 2024 quarter against a profit after tax of Rs 33.79 crore in the corresponding quarter of the previous financial year. Revenue in Q2 fell 16% to Rs 91 crore against Rs 108.3 crore in the same quarter of the previous financial year.

Data Patterns stock slipped 10.27% intraday to Rs 2320.30 on the BSE. The firm logged a turnover of Rs 4.36 crore on BSE. Earlier, Data Patterns stock opened lower at Rs 2081.85. Market cap of the firm slipped to Rs 12,294 crore. Data Patterns shares have gained 20% in a year and risen 19.39% since the beginning of this year.

The stock has a one-year beta of 1, indicating average volatility during the period.

In terms of technicals, the relative strength index (RSI) of Data Patterns stands at 45.1, signaling neither the stock is overbought nor oversold. Data Patterns stock is trading lower than the 5 day, 10 day, 20-day, 100-day and 200-day averages.

For the half-year ended September 30, 2024, profit after tax came at Rs 63.07 crore against Rs 59.62 crore in the same period last year.

Commenting on the financial performance, chairman and managing director Srinivasagopalan Rangarajan said, ”We are pleased to report healthy and improved margins during H1 of FY2024-25, driven by our continued focus on operational efficiency and a more favourable product mix. Revenue for the quarter was impacted due to the deferment of the delivery schedule by the customer for completed products.”

”Our order inflow has been slower than anticipated in the first half, which we expect to improve in the second half. We remain committed to a continued growth trajectory while maintaining healthy revenue growth and profitability,” added Rangarajan.

Data Patterns (India) Limited is an India-based vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defense products industry. Its portfolio includes COTS Boards, ATE and Test systems, Space Systems, and Radio Frequency and Microwave. It designs COTS module products that are used in rugged applications and automatic test equipment platforms.