Apollo Micro Systems Ltd (AMSL) Q2 Results: PAT Up 113% On Stronger Income

Apollo Micro Systems Ltd (AMSL) said on Friday that increased income helped its standalone net profit more than quadruple to Rs 7 crore for the September quarter. At the same time last year, the company recorded a net profit of Rs 3.28 crore, it said in a regulatory statement on Friday. The company's total income climbed 67% YoY to Rs 87.57 crore from Rs 52.39 crore in the year-ago quarter.

Compared to Rs 47.47 crore in Q2FY23, AMSL's expenses climbed to Rs 78.68 crore in the quarter under review.
In the September 2023 quarter, Apollo Micro Systems recorded a 300 per cent rise in total net profit on a year-on-year (YoY) basis to Rs 6.56 crore. At the same time last year, the firm declared a net profit of Rs 1.64 crore. Its net profit for the first quarter of the current fiscal year was Rs 1.63 crore.

Its net sales for the second quarter of the current fiscal year jumped by more than 55% YoY to Rs 87.16 crore. In the previous year, its revenue from operations was Rs 56.27 crore. From Rs 4.92 crore in the same period last year to Rs 8.21 crore in the first half of the current financial year, Apollo Micro's net profit climbed 67% YoY.

From Rs 108.33 crore in the H1FY23 to Rs 144.85 crore in April-September 2023, revenue from operations jumped by 33% YoY.

The establishment of a defence equipment manufacturing plant at Hyderabad's Hardware Park has been discussed and accepted by the board. According to the exchange filing, it also approved investments of up to Rs 5 crore in machinery and plant for the manufacturing of composites.

Following the results, the shares of Apollo Micro Systems closed 3.31% higher at Rs 116.95 apiece on Friday.