Data Patterns shares fall 10% compared to Q2 results, see details

Shares of Data Patterns (India) slipped over 10% on Monday after the aerospace and defense company reported a 10% drop in second-quarter profit. Data Patterns posted a profit of Rs 30.28 crore for the July-September 2024 quarter as against profit after tax of Rs 33.79 crore in the corresponding quarter of the previous fiscal. Revenue fell 16% to Rs 91 crore in the second quarter as against Rs 108.3 crore in the same quarter of the previous fiscal.

Shares of Data Patterns fell 10.27% to Rs 2,320.30 intraday on the BSE. The company reported a turnover of Rs 436 crore on BSE. Earlier, Data Patterns shares opened lower at Rs 2081.85. The company’s market capitalization fell to Rs 12,294 crore. Shares of Data Patterns have gained 20% in a year and are up 19.39% year-to-date.

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

From a technical perspective, Data Patterns’ Relative Strength Index (RSI) is at 45.1, meaning the stock is neither overbought nor oversold. Data Patterns shares are trading lower than the 5-day, 10-day, 20-day, 100-day and 200-day moving averages.

For the half year ended September 30, 2024, profit after tax stood at Rs 63.07 crore as 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 improving margins in the first half of fiscal 2024-25, driven by our continued focus on operational efficiency and a more favorable product mix.” The Quarterly sales were impacted by customer postponement of finished product delivery schedule.”

“Our order intake was slower than expected in the first half of the year, but we expect it to improve in the second half. We remain committed to a continuous growth trajectory while maintaining healthy revenue growth and profitability,” Rangarajan added.

Data Patterns (India) Limited is an India-based, vertically integrated defense and aerospace electronics solutions provider targeting the domestic defense products industry. The portfolio includes COTS boards, ATE and test systems, space systems and radio frequency and microwave systems. It develops COTS module products used in rugged applications and automated test equipment platforms.