wordpress blog stats
Connect with us

Hi, what are you looking for?

Aksh Optifibre’s IPTV & VoIP Losses Down

Aksh Optifibre, a franchisee of BSNL and MTNL in India, has reported a 2 percent sequential growth in revenues from its IPTV service iControl and VoIP service Pigeon for the quarter ended December 2008. Aksh is one of the franchisees for PSU telcos BSNL and MTNL for these two services and competes with HFCL-related company Smart Digivision (MyWay). The status of other competitors – Time Broadband and BSE listed IOL Netcom, is not known. The company had previously noted its services business is expected to break even in a few quarters. EBIT loss is down 9 percent sequentially to Rs. 76.19 million and 23.7 percent year on year over revenues of Rs. 14.27 million in the quarter.

Details: Financials

The company continues to increase its investment in the business: in December, the company approved the raising of $8 million as part of its $20 million fund raising plan through the issue of convertible securities such as global depository receipts or foreign currency convertible bonds (FCCBs).
Aksh planned to repay retail lenders for an earlier issue of FCCBs worth $7 million which are due in 2010, and is using $1 million for other purposes.

Aksh had hived off its manufacturing operations into a subsidiary Aksh Technologies Ltd.

Parent Company: Standalone Losses Reduced To Rs.20M

Aksh Optifibre has reported an 86 percent year on year fall in net losses to Rs. 19.89 million in the quarter ended December 2009, though net sales have crashed to Rs. 14.27 million from Rs. 588.68 million recorded in the corresponding quarter in 2008. Total revenue is also down 96 percent QoQ. The company’s expenses have been scaled down – raw material costs amounted to Rs. 0.2 million compared to the Rs. 293.51 million in the previous quarter and Rs. 431.48 million in December 2008. Employee costs are also down 53 percent sequentially to Rs. 17.32 million. The company’s earnings per share has improved to -Rs. 0.34 compared to -Rs. 2.41 in December 2008.

Related

Advertisement. Scroll to continue reading.

Aksh Optifibre To Raise $8 Million

Apalya CEO Vamshi Reddy On Plans For 3G, Mobile Video Biz Models And More

Q1-10: Aksh Optifibre IPTV & VoIP Revenues & Losses Up

Written By

http://www.linkedin.com/in/preethij

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ