Aksh Optifibre Q3 FY23 Financials: Topline Down 13.65% YoY, PAT Up Multi-Fold
Aksh Optifibre Limited [NSE: AKSHOPTFBR, BOM: 532351], an Indian manufacturer of Optical Fibre Cables (OFCs), has announced its financial results for the quarter ended 31st December 2022.
Aksh Optifibre’s Standalone Financial Numbers for Q3 FY23
During the third quarter of the ongoing financial year, Aksh Optifibre clocked Rs. 65.11 crore as its standalone revenue from operations.
Correspondingly, the Profit After Tax (PAT) of the company was Rs. 4.79 crore on a standalone basis for Q3 of FY-23.
Aksh’s Q3 Consolidated Financial Performance for 2022-23
YoY Comparison of Aksh’s Financials: Q3 FY-23 vs. Q3 FY-22
For the quarter ended 31st December 2022, Aksh Optifibre earned Rs. 68.32 crore as its consolidated revenue from operations. This reflects a 13.65% slump in revenue on a Year-over-Year (YoY) basis from the Rs. 79.12 crore revenue reported by the company in Q3 of FY-22.
PAT of the company leaped to Rs. 1.19 crore in Q3 of FY-23 from a mere Rs. 0.07 crore reported for Q3 of the previous fiscal.
QoQ Comparison of Aksh Optifibre’s Financial Numbers: Q3 FY-23 vs. Q2 FY-23
On a Quarter-over-Quarter (QoQ) basis, Aksh Optifibre’s revenue grew by 16.31%, thus exhibiting steady growth. The company had reported a revenue of Rs. 58.74 crore for the quarter ended 30th September 2022.
Aksh Optifibre reported a profit in Q3 of FY23 after suffering a loss of Rs. 2.67 crore in the previous quarter.
Aksh Optifibre’s Segment-Wise Consolidated Financials
Manufacturing: Aksh Optifibre’s manufacturing portfolio includes OFCs, Fibre Reinforcement Plastic (FRP) rods, Aramid Reinforcement Plastic (ARP) rods, LEDs and Ophthalmic lenses.
In Q3 of the current fiscal, this segment contributed Rs. 51.88 crore to the company’s revenue. This is 23.28% lower than Aksh’s Rs. 67.62 crore revenue from this segment reported for Q3 of FY-22.
On a QoQ basis, the company’s revenue from its manufacturing segment went up by 9.06% from Rs. 47.57 crore clocked in Q2 of the current fiscal.
Services: Aksh’s services segment comprises those in areas of e-governance, Fibre-To-The-Home (FTTH), Voice Over Internet Protocol (VoIP) and Internet Protocol Television (IPTV).
Aksh Optifibre’s services revenue for the quarter ended 31st December 2022 stood at Rs. 16.44 crore. This is a remarkable 42.83% YoY increase from the company’s Q3 services revenue in FY-22, which was Rs. 11.51 crore.
Comparing Aksh Optifibre’s Q3 FY-23 services revenue to Q2 FY-23 revenue from this segment, a QoQ jump of 47.18% is evident. For Q2 of FY-23 the company’s services revenue was Rs. 11.17 crore.
About Aksh Optifibre Ltd.: 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. The company reported consolidated revenue of Rs. 316.38 crore during the 2021-22 financial year.