Axiscades Q1 Profit Jumps 3x to Rs 17 Crore | Business News
Aug 06, 2024 17:46
Axiscades reported a three-fold rise in consolidated net profit to Rs 16.77 crore in the June quarter, driven by higher income and growth in engineering services.
New Delhi, Aug 5 (PTI) Engineering solutions provider Axiscades on Tuesday posted a three-fold rise in consolidated net profit to Rs 16.77 crore in the June quarter, on account of higher income.
It had reported a net profit of Rs 5.70 crore for the year-ago period, the company said in an exchange filing.
The company's total income rose to Rs 233.77 crore from Rs 216.33 crore in the April-June quarter of the preceding 2023-24 fiscal. Expenses were at Rs 209.55 crore as against Rs 207.85 crore in the same period a year ago.
In a separate statement, the company's CEO & MD Arun Krishnamurthi said, "We reported a strong start to FY25. Our revenue grew by 4.5 per cent to Rs 223 crores with EBITDA of Rs 31 crore."
The growth in revenues was driven by an increase in engineering services led by aerospace, automotive, and energy verticals, he said.
The company is also in the process of supplying drone systems to the Indian army as part of Rs 100 crore.
Bengaluru-based Axiscades is a leading end-to-end engineering and technology solutions provider catering to sectors like aerospace, defence, heavy engineering, automotive, and energy among others.
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