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Nuvama believes the sector is primed for structural growth with strong policy support and increasing global interest in Indian-made defence equipment.
In contrast, operating revenue increased 8% to Rs 3,915.35 crore for the quarter ended in June. In the same period, it was Rs 3,622 crore.
Pakistan and China have pitched their JF-17 Thunder while India has offered the LCA. Both aircraft fulfil the Air force’s requirements.
"It is our duty to ensure that our armed forces are fully equipped to handle any challenge and repel any security threat firmly", he said, while drawing attention to multiple security challenges faced by the country due to a highly complex geopolitical environment.