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Aksh Optifibre reports net profit of Rs 50.6 million for the quarter ended September 2017

Tuesday, 14 November 2017

Aksh Optifibre Limited has reported financial results for the quarter ended September 2017. The company’s profit after tax (PAT) increased by 1.36 times from Rs 21.4 million for the quarter ended June 2017 to Rs 50.6 million for the quarter ended September 2017.

The company reported an increase in revenue by 26 per cent from Rs 1.15 billion for the quarter ended June 2017 as compared to Rs 1.45 billion for the quarter ended September 2017. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 41 per cent to Rs 150 million on quarter-on-quarter basis. Further, its EBIDTA margins have improved to 11 per cent as against 9 per cent in previous quarter.

Mr. Satyendra Gupta, Deputy Managing Director at Aksh Optifibre Limited, commented, “The quarter gone by has witnessed certain positive events which will shape a better future for the organisation in the times to come. Consistent efforts towards expansion of existing operations and strengthening core processes will lead to fruitful results in the quarters to come. The margins will strengthen further in the near future, as Company has taken steps to mitigate the risk from high raw material prices, by making operational its additional optical fibre capacity in its Bhiwadi plant facility. The Ophthalmic lens facility is in the process of rolling out its first batch of lenses soon, for which the trial run has already started.”

During the quarter ended September 2017, the company’s order execution remained robust as a result it achieved improved turnover, compared to the previous quarter. Despite, witnessing challenges in sourcing the key raw material for its optical fibre cable segment at the economically viable prices, the company has still managed to improve its margins due to setting up its additional optical fibre towers in its Bhiwadi plant facility, which has become operational during the end of the quarter. However, the complete impact of the decreased cost of raw material will get fully captured in the subsequent quarters to come.

With the objective to maximize shareholders value and improve the competitive position of the combined entity, the company has merged its subsidiary company APaksh broadband Limited with its parent company Aksh Optifibre Limited. This initiative shall facilitate better integration, financial strength, tax savings and stronger balance sheet of the amalgamated entity.

 
 

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