Engineering and tech firm Axiscades Q4 net profit grows over three-fold to Rs 32 crore
Engineering solutions provider
Axiscades has reported over three-fold jump in consolidated net profit to Rs 32 crore in the March quarter, aided by higher revenues. It had recorded a net profit of Rs 9 crore during the January-March period of 2023-24, the company said.
Axiscades revenue increased 5% to Rs 268 crore in the latest fourth quarter from Rs 256 crore a year ago.
The company's EBITDA (earnings before interest, tax, depreciation and amortisation) also rose 15% to Rs 37 crore in the quarter under review from Rs 32 crore in Q4 FY24.
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For the entire fiscal, its revenue surged 8% to Rs 1,031 crore from Rs 955 crore a year ago, the company said in a filing on Monday.
Its CEO and MD Alfonso Martinez said, "As we approach FY26, our priority is to capitalise on the opportunities in emerging sectors like manufacturing, MRO, chip-to-product and advanced defence technologies, including unmanned warfare, to bring about non-linear, product-led, scalable growth".
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The company also plans to invest significantly in developing new proof of concept and products with a focus on creating commercially viable assets for future revenue.
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The board also approved merger of its step-down subsidiary 'add solution GmbH' with AXISCADES GmbH, the wholly-owned subsidiary of the company.
On the rationale behind the move, it said the business of both entities add solution GmbH and AXISCADES GmbH are complimentary. Hence consolidation of the entities will result in synergy of business operations, optimise operational cost and reduce the compliance risk.
Bengaluru-based Axiscades Technologies (Axiscades) is a leading end-to-end engineering and
technology solutions provider
, catering to sectors like aerospace, defence, heavy engineering, automotive and energy, among others.
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