Astra Microwave Products, India`s leading provider of microwave wireless communications technologies for use in defense, space, and civilian applications, recently procured a  Rs 255 million order from the Indian Meteorological Department.

The managing director, and CEO, of the company, B. Malla Reddy in an exclusive talk with Myiris revealed that the above order may yield high profitability to the company. He said, `` We expect about 40% profit before tax and depreciation.``

The order is for the supply, installation, and commissioning of remote unmanned automatic remote weather stations in 550 locations across India. Scheduled to be installed in 2009, the weather stations will feed live data via satellite to the Met Department`s central servers on a 24X7 basis.

The company reported a dismal financial performance during the first quarter ended Jun. 30, 2008.

The net profit of the company declined 12.24% to Rs 16.53 million  for the quarter ended Jun. 30, 2008, as against Rs 18.80 million for the prior year period.

While the net sales for the quarter ended June 2008 stood at Rs 167.75 million as against Rs 153.20 million for the prior year period, witnessing a marginal rise of
9.49%.

The total income for the June 2008 quarter was at Rs 172.35 million as against Rs 157.70 million for the prior year period, witnessing a marginal 9.28% increase.

Commenting on his outlook for Q2 results and the current fiscal, Malla Reddy said, `` This quarter will be better than last year`s Q2. However current fiscal could be similar to that of last year.``

The board of directors of the company recently were considering merger of the company with its wholly owned subsidiary, Astra Microelectronic (Q,N,C,F)* Technologies. Malla Reddy throwing light on the above told Myiris, ``The decision was taken during the last board meeting and the process is still going on.``

Astra Microwave Products,  was incorporated as a private limited company in 1991 and got converted into a public limited company in 1993. 

The company focuses on defense with the supply of sub-systems for radar electronics, missile electronics, EW applications apart from telemetry components. In the missile product range ,the company is working on sub-systems for Astra, Pichora and Brahmos.

The company also recently entered into a memorandum of understanding (MoU) with US-based Raytheon Company to explore opportunities in new technologies and products, and possible participation with Raytheon in any resulting offset support for supply of Medium Multi-Role Combat Aircraft to the Indian Ministry of Defense.

Commenting on the above, Malla Reddy told Myiris, ``The MoU with Raytheon was mainly aimed at becoming an offset partner of the supply of 120 fighter aircrafts tender of IAF that is in the process. Once IAF selects the aircraft supplier and Raytheon happens to be the Radars supplier for the air crafts, then Astra will be looked at as a possible offset partner of Raytheon. I expect the process to take at least two years from now.``

Shares of the company gained Rs 0.5, or 0.92%, to settle at Rs 54.95. The total volume of shares traded was 69,798 at the BSE (Tuesday).