AXISCADES Tech gains after PAT rises nearly 3x in Q1; revenue at $26.9 milion

AXISCADES Technologies jumped 4.23% to Rs 527 after the company reported a net profit of Rs 17 crore in Q1 FY25, which is nearly three times as compared with the PAT of Rs 6 crore recorded in Q1 FY24.

Revenue from operations amounted to Rs 223 crore for the quarter, up 4.5% YoY. In dollar terms, the companys revenue stood at $26.9 million, up 2.5% YoY.

EBITDA for Q1 FY25 was at Rs 31 crore as compared to Rs 33 crore in Q1 FY24, down 5.8% YoY. EBITDA margin was at 13.9% in Q1 FY25 as against 15.4% in Q1 FY24.

Arun Krishnamurthi, CEO & MD of AXISCADES, said: We are pleased to report a strong start to FY25, highlighted by noteworthy business performance in Q1FY25, in the face of macro challenges in certain verticals and lumpiness in Defence.

The companys YOY revenue grew by 4.5% to Rs 223 crore with EBITDA of Rs 31 crore and PAT of Rs 17 crore. The revenue growth was driven by a 15% YoY increase in Engineering Services, led by Aerospace, Automotive, and Energy Verticals. Defence production revenues grew 73% YOY, with a strong order book for execution in FY25.

Overall, the company performed well in Q1, across most verticals, with the exception of Heavy Engineering and PES, where macroeconomic challenges persist.

We are focused on overcoming the challenges in certain verticals and are confident of delivering to our companys plan for the full year FY25 and will continue to strengthen the business for sustainable growth and profitability."

AXISCADES Technologies provides engineering design services and has been serving various verticals, viz. aerospace, defense, heavy engineering, automobile and industrial products.

Powered by Capital Market - Live News