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Aksh Optifibre Q3 FY24 Results: Revenue Plummets 24% YoY, Services Grow 28.5%

Aksh Optifibre logo

Aksh Optifibre Limited [NSE: AKSHOPTFBR, BOM: 532351], an Indian manufacturer of Optical Fibre Cables (OFCs), has announced its financials for Q3 of FY-24.

Aksh Optifibre’s Q3 FY-24 Standalone Figures

Aksh reported a standalone revenue of Rs. 51.44 crore from operations during Q3 of FY-23, and a corresponding Profit After Tax (PAT) of Rs. 0.16 crore for the period.

Earning Per Share (EPS) of the company stood at Rs. 0.01 for the quarter ended 31st December 2023.

Aksh Optifibre’s Revenue Comparison: Q3 FY23 vs. Q3 FY24 vs. Q2 FY24

Aksh’s Consolidated Q3 FY-24 Financial Results

YoY Analysis of Aksh’s Q3 Financials: Q3 FY-24 vs. Q3 FY-23

Aksh Optifibre’s PAT Comparison: Q3 FY23 vs. Q3 FY24 vs. Q2 FY24

Year-over-Year (YoY) comparison of Aksh’s Q3 financials show a drop of 24.15% with a revenue of Rs. 51.72 crore in FY-24 versus Rs. 68.19 crore revenue in Q3 FY-23.

This downward trend was echoed by Aksh’s profit, with the company reporting a loss of Rs. 4.21 crore during Q3 FY-24 against a PAT of Rs. 1.19 crore which was logged for Q3 of FY-23.

Correspondingly, the company reported a loss per share of Rs. 0.26 in Q3 of FY-24 against EPS of Rs. 0.07 during Q3 of FY-23.

QoQ Comparison of Aksh Optifibre’s Results: Q3 FY-24 vs. Q2 FY-24

On a Quarter-over-Quarter (QoQ) basis, the company registered a 14.29% slump in revenue, from the Rs. 60.34 crore top-line clocked for Q2 of FY-24.

Aksh Optifibre had reported a net loss of Rs. 4.93 crore during Q2 of FY-24. This reflects a 14.60% mitigation in the company’s loss from Q2 to Q3 of FY-24.

Aksh Optifibre’s Segment-Wise Revenue Comparison

Comparison of Aksh Optifibre’s Financials: Q3 FY-23 vs. Q3 FY-24

Manufacturing: Revenue from Aksh Optifibre’s manufacturing vertical dwindled drastically by 40.89% to Rs. 30.59 crore in Q3 of FY-24 from Rs. 51.75 crore logged during Q3 of FY-23.

Services: The company’s services segment brought in Rs. 21.13 crore to Aksh’s total revenue during Q3 of FY-24 against Rs. 16.44 crore during Q3 of FY-23. This reflects an increase of 28.53% in the company’s Q3 services segment revenue of a YoY basis.

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