Axiscades Reports Stellar Profit Growth, Eyes Emerging Sectors

Engineering solutions provider Axiscades saw a more than threefold increase in net profit to Rs 32 crore in the March quarter, driven by higher revenues. The company's strategic focus on emerging sectors aims to catalyze scalable growth. A merger to optimize operations was also approved.

Engineering solutions provider Axiscades has experienced a significant surge in its net profit, achieving over a threefold increase to Rs 32 crore during the March quarter. This impressive growth is attributed to a rise in revenues.

Comparatively, Axiscades had documented a net profit of Rs 9 crore in the same quarter of the previous financial year. The company's revenues have shown a growth of 5%, reaching Rs 268 crore in the latest fourth quarter, up from Rs 256 crore a year ago.

A key focal point for Axiscades is the expansion into emerging sectors, according to CEO and MD Alfonso Martinez. The company is set to prioritize areas like manufacturing, maintenance, repair, and operations (MRO), and advanced defense technologies for future growth. A merger of subsidiary entities aims to create synergies and optimize costs.

(With inputs from agencies.)