Aksh Optifibre records highest ever turnover
New Delhi [India], Feb. 15 (ANI-BusinessWire India): Aksh Optifibre Limited , the leading Indian manufacturer of Optical Fibre (OF), Optical Fibre Cables (OFC), Fibre Reinforced Plastic (FRP) and a major e-Governance service provider reported its Q3 FY17 results.
During the quarter, the company has achieved multiple milestones in terms of higher operational efficiencies, business efficacy through disruptive market strategies resulting in recording highest quarterly revenue of Rs. 133 Crore. The OFC division of the company has reported highest ever optical fibre consumption.
The worldwide optical fibre cable deployment reached an all-time high of 420 Million Fibre-Km in the year 2016.The global preform capacities being fully utilised has led to a worldwide shortage of optical fibre, creating a demand-supply gap and firming up of the optical fibre prices across the globe.
This situation has put an adverse impact on the margins in the OFC business. However, this situation will improve with the proposed global expanded capacities of preform becoming operational in forthcoming quarters
The Company's diversification plan to manufacture ophthalmic lens is progressing as per schedule and will be operational by Q1 2017.
Aligning with the vision of present Indian government towards digitisation and digital economy the recently announced budget has allocated an additional budget of Rs. 10,000 Crores for laying of OFC under Bharat Net program. The Finance Minister announced that by end of 2017-18, high speed broadband will be available in additional 150,000 gram panchayats via Wifi hotspots. These announcements would have a positive impact on the industry as a whole.
Another healthy sign of rising demand is the installation of optical fibre cable by Local Internet Service Providers in the metros to provide high speed internet to individual consumers. As per a leading industry report, the average internet speed in India has for the first time crossed the 4 Mbps mark. This is a very positive sign to gauge the growing potential not just in the Indian market but globally as well.
There has been a massive surge in demand for Optical Fibre Cable in many European Countries such as France, Poland and Germany.
"We are investing heavily in expansion and modernisation of manufacturing facilities, human capital development coupled with a transformational change in business strategies. This has enabled us to achieve the highest ever turnover, FKM consumption and exports in the current quarter," said Satyendra Gupta, Deputy Managing Director.
"The acquisitions in FRP Business made in the past and planned in the future will help in inorganic growth for the company. We firmly believe that our relentless and persistent efforts would lead us to achieve our vision to become a global leader," added Gupta.
1 STOP AKSH, the service division of the company has further extended its footprint in the green energy space with the recent launch of Emergency LED Bulbs in Rajasthan. The company will soon expand its product portfolio in the LED lighting space to offer a wide range of choices to its consumers.
1 STOP AKSH plans to sell these products through its vast network of over 10,000 Kiosks across all 33 districts of Rajasthan. The company will soon sell these products across the country in the coming months. The recently announced demonetisation will have a positive impact on the e-payment business of 1 STOP AKSH with sustainable growth. (ANI-BusinessWire India)