Penny stock under Rs 15: This telecom equipment company bags a new work order worth Rs 13.43 crores!

Shares of the company have gained about 30 per cent in the last six months.

Aksh Optifibre Limited informed in the exchange filing that the company has bagged an order worth Rs 13.43 crores. The order is for replacing 5000 HPSV and LED Light into Smart LED Light with ILC and Aksh shall maintain the project O&M for three years. The project has to be executed within a period of four months. This project shall bring energy saving as in this project individual light shall be controlled by using ILC. The order is from Jaipur Development Authority.

The company posted weak Quarterly Results. The company's revenue for Q1FY24 stood at Rs 58.69 crore which grew by 26.58 per cent YoY. The operating profit of the company stood at Rs 8.09 crore, while the PAT of the company stood at a loss of Rs 1.80 crore against a loss of Rs 1.61 crore in the last year same quarter.

Aksh Optifibre Limited was founded in 1986 with major focus on manufacturing of Optical Fibre Cables. The portfolio later got reinforced with the addition of Optical Fibers & Fiber Reinforced Plastic Rods. Its products form the core of intranet, internet and other communication network all around the world. Manufacturing being the core business, the company remained in well aligned with the latest market trends and started commissioning of detailed distribution networks, Fiber to Home & Turnkey projects for data communication

The stock has shown tremendous growth, and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.