Astra Microwave Products has made announcement that it has allotted 26,400 equity shares to selected employees on the exercise of vested options allowed to them under ESOP scheme - 2005 of the company.

For the quarter ended December 31, 2007, Astra Microwave Products has posted a steep fall of 44.9% in its net profits, which stood at Rs 44.80 million as compared to Rs 81.30 million for the quarter ended December 2006.

Net sales climbed up 22.49% to Rs 264.70 million for the quarter ended December 2007 from Rs 216.10 million for the quarter ended December 2006.

The Group’s major activities include design and manufacture high value added RF and microwave super components and sub systems. The products are widely used in VSAT operations, radars, navigational equipment, public mobile trunk radio, WLL, cellular GSM/DCS or PCS networks.

At 2:45 pm, shares of the company lost 1.3% at Rs 67.50 at the Bombay Stock Exchange (BSE).