Aksh Optifibre Q1 FY-23 Results: Profit Up 368.33% YoY

Aksh Optifibre Limited [NSE: AKSHOPTFBR, BOM: 532351], an Indian manufacturer of Optical Fibre Cables (OFC), has declared its financial results for the first quarter of FY-23.
Aksh Optifibre’s Consolidated Financial Performance
YoY Comparison of Financials: Q1 FY-23 vs. Q1 FY-22
Aksh Optifibre Ltd. reported Rs. 79.93 crore as revenue from operations for Q1 of 2022-23 fiscal. This 6.97% increase reflects stability in the company’s revenue when compared to its Rs. 74.72 crore revenue clocked during Q1 of the previous fiscal.

Profit After Tax (PAT) for the quarter ended 30th June 2022 stood at Rs. 1.61 crore, showing a massive 368.33% increase from a loss of Rs. 0.60 crore that the company reported for the corresponding quarter in 2021-22.
QoQ Comparison of Aksh Optifibre’s Financial Results: Q1 FY-23 vs. Q4 FY-22
Comparing the company’s financials on a Quarter-over-Quarter basis, we see that revenue from operations went slightly down by 9.36% from Rs. 88.18 crore recorded for Q4 of FY-22. This is natural since Q4 is usually the highest grossing quarter for the cable industry.
PAT also exhibited a similar trajectory, going down marginally by 4.17% from Rs. 1.68 crore registered for the quarter ended 31st March 2022.
Aksh Optifibre’s Segment-wise Revenue Comparison

Manufacturing: Aksh Optifibres manufactures a range of products including OFCs and associated connectivity solutions, Fibre Reinforcement Plastic (FRP) rods, Aramid Reinforcement Plastic (ARP) Rods, ophthalmic lenses and energy-efficient solutions like LEDs.
Aksh reported a revenue of Rs. 67.98 crore from this segment for Q1 of FY-23. This is 8.99% higher than the Rs. 62.37 crore revenue clocked in this segment during Q1 of the previous fiscal. Further, manufacturing segment of the company reflected a QoQ decrease by 11% from Rs. 76.39 crore reported for Q4 of FY-22.
Services: This segment comprises e-governance, Fibre to the Home (FTTH), Internet Protocol Television (IPTV) and Voice Over Internet Protocol (VOIP) services provided by Aksh Optifibre. Moreover, it also includes turnkey projects for broadband services and road safety.
Revenue from this segment during Q1 of the new fiscal was Rs. 11.95 crore, which is 3.24% lower YoY from Rs. 12.35 crore reported for Q1 of FY-22. On a QoQ basis, revenue from this segment was up by a meagre 1.36% from Rs. 11.79 crore reported during the last quarter of FY-22.
About Aksh Optifibre Ltd.: Aksh Optifibre Ltd. was set up as an OFC manufacturing company in 1986. The company stepped into the FRP manufacturing business in 2000. Aksh has two plants at Bhiwadi for Optical Fibre Cable manufacturing and one plant at Reengus, Rajasthan for Fibre Reinforced Plastic Rods (FRP) manufacturing. The company reported consolidated revenue of Rs. 316.38 crore during the 2021-22 financial year.