Indra's Q3 net profit rises 24% from same period in 2023
Adds third quarter data and detail on a recent acquisition
Oct 30 (Reuters) -Spain's defence and technology firm Indra IDR.MC said on Wednesday its net profit for the third quarter rose 24% as global tensions fuelled demand for its air defence systems.
The company's net profit for the quarter reached 70 million euros ($75.74 million), more than the 65.16 million euros estimated by analysts polled by LSEG and more than the 56 million euros in the same quarter last year.
Indra's revenues rose 13% to 3.4 billion euros in the period between January and September.
Soaring geopolitical tensions are boosting European defence companies' revenues and margins as military budgets rise.
Indra, which is partly owned by the Spanish government, has previously said it is seeking acquisitions to bolster its defence business. On Tuesday, the company agreed to increase its stake in Tess Defence to 51% from a previous 24.7%.
($1 = 0.9242 euros)
Reporting by Natalia Siniawski, editing by Inti Landauro
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