PTC Industries rose 2.06% to Rs 2,791.10 after the company said that its wholly owned subsidiary, Aerolloy Technologies has signed a memorandum of understanding (MOU) with Dassault Aviation for supply of titanium cast parts and material to Dassault.
Dassault Aviation is a French aerospace corporation that designs and manufactures military aircraft, corporate jets, and space technologies.
As part of the MoU, the two organisations will evaluate the possibility of Dassault Aviation purchasing Titanium and Super Alloy material, components, and castings for Aerospace applications from Aerolloy Technologies.
These titanium castings and components shall be used for Rafale multirole fighters and other Dassault manufactured aircraft, said the company.
Sachin Agarwal, chairman and managing director, PTC Industries said, "With the technologies and capabilities that are being created by Aerolloy for the manufacture of aerospace materials, components, and sub-systems, this partnership is a significant one. This is a big step forward towards bringing parity and building a strong defence and aerospace manufacturing ecosystem in India.
PTC Industries is one of the world's leading suppliers of high precision metal components for critical and super critical operations across a wide range of segments including aerospace, defence and industrial.
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The company's consolidated net profit zoomed to Rs 6.09 crore in the quarter ended December 2022 as against Rs 1.16 crore during the corresponding quarter previous year. Net sales jumped 26.82% YoY to Rs 56.94 crore in the quarter under review.
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