Aksh Optifibre reports good Q2, stock rises

The company reported highest ever quarterly profit and turnover, on Tuesday. The stock of Aksh Optifibre closed at Rs. 26.55 per share, up by 3.51 per cent on the BSE exchange. The stock opened at Rs. 25.40 per share, and hit an intraday high of Rs. 27.30 per share and an intraday high low of Rs. 25.15 per share.

The company reported its best financial performance for Q2FY19. The company posted all-time highest quarterly turnover and net profit. EBITDA margins stood at 23 per cent, as against 11 per cent in the corresponding quarter of previous year. Profit after Tax was at Rs. 17 crore, an outstanding increase of 237 per cent as against Rs. 5 crore in the corresponding quarter last year.

During the quarter, the company successfully commissioned its FRP manufacturing plant in China. Thus has almost met all its capex requirement, except the Dubai plant.

Aksh Optifibre is engaged in the manufacture of optical fibre and cables and fibre reinforced plastic rods and provides turnkey services. It has manufacturing facilities in Bhiwadi, Kehrani and Reengus in Rajasthan and Silvassa. The company also has plants in China, Dubai and Mauritius with customers in 67 countries.