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Aksh Optifibre Q2 FY-24 Financials: Revenue Drops, Company Reports Loss

Aksh Optifibre logo

Aksh Optifibre Limited [NSE: AKSHOPTFBR, BOM: 532351], an Indian manufacturer of Optical Fibre Cables (OFCs), has announced its financial results for Q2 of FY-24.

Aksh Optifibre’s Standalone Financial Numbers for Q2 of FY-24

Aksh Optifibre earned a standalone revenue of Rs. 59.15 crore from operations during Q2 of FY-24. Further, the company reported a loss of Rs. 1.48 crore during second quarter of FY-24.

Correspondingly, the company reported a loss per share of Rs. 0.09 during Q2 of FY-24.

Aksh’s Q2 FY-24 Consolidated Financial Results

YoY Comparison of Aksh’s Consolidated Financials: Q2 FY-24 vs. Q2 FY-23

Comparison of Aksh Optifibre’s Financials: Q2 FY-23 vs. Q2 FY-24 vs. Q1 FY-24

Aksh Optifibre clocked a revenue of Rs. 60.34 crore from operations during Q2 of FY24 against Rs. 58.69 crore during Q2 of FY-23. Therefore, Aksh Optifibre’s Q2 revenue showed a slight increase of 2.81% on Year-over-Year (YoY) basis.

Aksh Optifibre reported a net loss of Rs. 4.93 crore for Q2 of FY-24 against a loss of Rs. 2.67 crore during Q2 of FY-23. The company’s Q2 loss has increased by 84.64% from FY-23 to FY-24.

Per share, the company suffered a loss of Rs. 0.30 for Q2 of FY-24 against a loss of Rs. 0.16 during Q2 of FY-23.

QoQ Comparison of Aksh Optifibre’s Financials: Q2 FY-24 vs. Q1 FY-24

Aksh Optifibre’s revenue from operations increased by 4.16% from Rs. 57.93 crore recorded during Q1 of FY-24. Further, the company’s loss increased 2.73 times QoQ from loss of Rs. 1.80 crore during first quarter of FY-24.

Aksh Optifibre’s Segment-Wise Revenue Comparison

Comparison of Aksh Optifibre’s Financials: Q2 FY-23 vs. Q2 FY-24

Manufacturing: Aksh Optifibre’s revenue from this segment fell by 24.45% YoY to Rs. 35.90 crore in Q2 of FY-24 from Rs. 47.52 crore which was reported for Q2 of FY-23.

Services: Revenue from Aksh’s Services business rose to Rs. 24.44 crore in Q2 of FY-24 from Rs. 11.17 crore clocked during Q2 of FY-23. Therefore, Services revenue of the company in Q2 FY-24 was 2.19 times that during Q2 FY-23.

About Aksh Optifibre Limited: Aksh Optifibre Ltd. was set up in 1986. In 2000, the company diversified into the FRP manufacturing business. Aksh has two plants at Bhiwadi for Optical Fibre Cable manufacturing and one plant at Reengus, Rajasthan for Fibre Reinforced Plastic Rods (FRP) manufacturing.