Axiscades Reports Three-Fold Profit Surge in June Quarter

Engineering solutions provider Axiscades reported a significant rise in consolidated net profit to Rs 16.77 crore in the June quarter. This represents a three-fold increase from Rs 5.70 crore a year ago. The company's income rose to Rs 233.77 crore, driven by higher engineering services in aerospace, automotive, and energy.

Engineering solutions provider Axiscades on Tuesday announced a three-fold increase in consolidated net profit for the June quarter, reaching Rs 16.77 crore, as per an exchange filing. This sharp rise comes from last year's Rs 5.70 crore profit during the same period.

The company's total income rose to Rs 233.77 crore in the April-June quarter of the fiscal year 2023-24, compared to Rs 216.33 crore in the same period the previous year. On the expense side, Axiscades reported Rs 209.55 crore, slightly up from Rs 207.85 crore a year ago.

In another statement, CEO & MD Arun Krishnamurthi mentioned, "We reported a strong start to FY25. Our revenue grew by 4.5 per cent to Rs 223 crores with an EBITDA of Rs 31 crore." The growth was driven by increased demand in engineering services within the aerospace, automotive, and energy sectors. Additionally, the company is set to supply drone systems worth Rs 100 crore to the Indian army.