BPO/KPO firm AXISCADES Technologies announced Q1FY24 results: Revenue of Rs 2,136 million in Q1FY24 compared to Rs 1,833 million in Q1FY23, up 17% YoY EBITDA of Rs 330 million in Q1FY24 compared ot Rs 227 million in Q1FY23, up 45% YoY EBITDA Margin of 15.4% in Q1FY24 compared to 12.4% in Q1FY23, up 300 bps YoY PAT of Rs 57 million in Q1FY24 comapred to Rs (317) crore in Q1FY23 Commenting on the performance, David Bradley, Chairman, AXISCADES said, “We have started the fiscal year 2024 on firm footing, recording revenue growth of 17% and EBITDA growth by 45% Year on Year. The recent acquisition of add solution GmbH will give us access to global OEMs and help us expand our product offerings to the automotive industry. Over the past few years, we have acquired businesses that have helped us to expand into new segments and grow our market share. These acquisitions have been accretive to our earnings and have helped us to achieve our long-term growth goals. A strategic refinancing of our long-term debt will allow us to invest more in our growth initiatives and further expand our bottom line. We have a strong, growing team in place that is focused on executing our growth strategy to generate value for all stakeholders.” Commenting on the results and outlook, Arun Krishnamurthi, CEO & MD, AXISCADES said, “We are building upon the strong momentum generated in FY23. Fiscal 2024 has started with two key achievements, a cross-border acquisition of add solution GmbH and the refinancing of our debt. We believe that the acquisition will be a significant driver of growth for our automotive business. The refinancing will lower our interest costs, and optimize our capital structure, resulting in a robust balance sheet. During the quarter, we saw remarkably higher contributions from the Aerospace vertical and we continued to gain wallet share from our clients in the defense sector, adding significantly to our topline. Our new businesses win continue to show positive momentum. We are excited about the opportunities that lie ahead of us and aim to execute our objectives further aided by increased financial flexibility and create value for all stakeholders.” Result PDF
BPO/KPO company AXISCADES Technologies announced Q2FY23 results: Q2FY23: Revenue up 43% to Rs 1,937 million EBITDA up 238% to Rs 374 million PAT up 660% to Rs 211 million H1 FY23: Revenue up 53% to Rs 3,769 million EBITDA up 180% to Rs 601 million Adjusted PAT up 723% to Rs 338 million David Bradley, Chairman of AXISCADES, said: “We are happy to consistently raise the bar with our performance in FY23. Our focus remains on generating growth while also driving profitability. I am proud of the team’s consistent efforts to execute at the highest level. This is well appreciated by our clients, and we are looking to exploiting cross selling opportunities to increase wallet share. I am convinced about the capability of India to be the leading provider of engineering solutions to global industries. AXISCADES is in a prime position to capture the opportunities and aims to generate value over the long term for all stakeholders.” Arun Krishnamurthi, CEO & MD of AXISCADES, said “We are proud to have delivered a stellar performance registering a strong growth in revenue while generating substantially high profit. The future of automotive technologies is fascinating as vehicles get increasingly feature-rich. We are positioning ourselves to become a preferred partner in the space and are happy to announce the signing of a long-term deal with another Tier-1 global automotive major. Despite global headwinds across multiple sectors, our relentless efforts are paying off with robust growth across all our verticals. Strategic initiatives are in place to integrate and unlock the tremendous potential of Mistral Solutions in the field of defence and embedded technologies. We are focused in our approach to be a reliable, leading-edge technology solutions provider helping our clients to optimise their processes.” Result PDF