Aksh Optifibre Recorded Highest Ever Quarterly Turnover and Profitability
Deepthi | Myequity news | Date : 23-10-2018 15:55:00 IST
Aksh Optifibre Limited, the leading manufacturer of Optical Fibre, Optical Fibre Cables and Fibre Reinforced Plastic Rods and e-Governance & Turnkey service provider reported its Q2 and Half Year FY19 financial results.
Aksh Optifibre reported its all-time highest quarterly financial performance for Q2 FY2019. During the quarter gone by the Company achieved its all-time highest quarterly turnover along with all-time highest Net Profit. EBITDA margins for the Company stood at 23%, as against 11% in the corresponding quarter of previous year. Profit after Tax at Rs 17 Crore reported a significant increase of 237% as against Rs 5 Crore in the corresponding quarter in the previous year.
Mr. Satyendra Gupta, Deputy Managing Director at Aksh Optifibre Limited, commented, “With most of the company’s expansion projects already in place, we have now shifted our complete focus on enhancing company’s operational efficiencies, with emphasis on expanding the market share for all the product lines in which it operates. The half year gone by has delivered some exceptional results which are rightfully reflected in our financial numbers and management is further hopeful to continue this increasing trend in the near future. Recent softening of optical fibre prices globally and also easing out the availability of fibre has led to the increased demand for optical Fibre cable and allied products and it appears that the same demand will keep surpassing the given supply side constrains, especially for the domestic optical fibre cable market. The capex incurred by the company in the recent past has started yielding positive results and going forward it will add to the top line as well as the bottom line of the company”.
About Aksh Optifibre Limited:
Incorporated in 1986, Aksh Optifibre Limited is an over 34 year old organization which started with the manufacturing of Optical Fibre (OF) and Optical Fibre Cables (OFC) in 1994. AKSH OPTIFIBRE LIMITED is one of the leading providers of transmission solutions for the telecom industries globally. The Company also delivers to e-governance services through its flagship programme ‘1 STOP AKSH’ with Government of Rajasthan and Aadhaar enrolment with UIDAI.