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Aksh Optifibre reports a profit of Rs 65 million for the quarter ended December 2017

February 14, 2018

Optical Fibre manufacturer, Aksh Optifibre has reported a 30 per cent increase in its profit after tax (PAT) from Rs 50 million during the quarter ended September 2017 to Rs 65 million during the quarter ended December 2017. The company’s total income also increased by 7 per cent from Rs 1,452 million to Rs 1,553 million during the same period.

Further, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 20 per cent from Rs 154 million during the quarter ended September 2017 to Rs 184 million during quarter ended December 2017. Its EBITDA margins stood at 12 per cent during quarter ended December 2017 as against 11 per cent in the trailing quarter.

Commenting on the financial results, Satyendra Gupta, Deputy Managing Director, Aksh Optifibre Limited, said, “Amidst the rapidly increasing global demand for data traffic originating consequent to artificial intelligence and hyper connected smart devices there has been need for deploying more and more fibre across the globe including India. Indian Optical fibre Industry is experiencing the never before demand consequent to rampant demand from digital India. The roll out of the Bharat net project, the world largest rural broadband project connecting 250, 000 gram panchayats will increase the demand for the optic fibre by manifold times. Consequent to the proactive steps taken by the company towards enhancing its operational capacities and backward integration the quarter gone by witnessed the significant positive impact on the top line and bottom line of the company. With the capacity increase in place, the company will look forward for the reduction in cost of production further. “

Moreover, Aksh Optifibre has expanded its manufacturing facilities in Bhiwadi, Rajasthan. After the expansion, company’s optical fibre manufacturing capacity now stands at 3 million fibre km per annum from 1.5 million fibre km per annum. Further, the optical fibre cables manufacturing capacity of the company now stands at 9 million fibre km per annum from an earlier figure of 4.5 million fibre km per annum. The company has also stated that the trial run for developing the ophthalmic lens is in progress at its ophthalmic lens production facility in Kehrani, Rajasthan and the commercial production will commence in early March 2018.

Meanwhile, Aksh’s board of directors has recently approved fund raising of up to $35 million through issue of equity shares or convertible instruments by way of qualified institutional placements (QIP) or foreign currency convertible bond (FCCB). Further, the board also approved issuance of convertible warrants to the promoters for an aggregate sum of Rs 425 million divided into 10 million warrants convertible into 10 million equity shares at a price of Rs 42.5 per share


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