IPTV and VoIP services company Aksh Optifibre has reported a quarter of profits: its total income for the quarter ended September 30th 2011 decreased sequentially to Rs. 66.42 crore, from Rs. 67.33 crore reported last quarter, and Rs 27.90 crore reported in Q2 FY11; and its profit for the quarter has increased to Rs. 4.94 crore, from Rs. 11.81 lakh that it reported in the last quarter; note that of this, only Rs. 65.36 crore is classified as Income from operations, which is down sequentially from Rs. 66.32 crore crore.
The consolidated results include accounts of Aksh Technologies, AP Aksh Broadband, AOL FZE, and AOL Projects JLT.
-Standalone: On a standalone basis, the company’s total income was Rs 2.97 crore, an increase compared to Q2-FY11’s income of Rs 2.31 crore. The company’s standalone profit was Rs 1.85 crore, an increase compared to the loss of Rs 3.93 crore that the company posted in the same quarter, last year.
-Segment Results: The company’s services business – which comprises of IPTV (iControl) and VoIP (Pigeon) ventures, which are franchisees for government owned telecom operators BSNL (20 cities in North India) and MTNL (Delhi and Mumbai), registered a revenue of Rs 2.95 crore for the quarter and reported losses of Rs 3.73 crore.
During the quarter AOL FZE, a wholly owned overseas subsidiary of the company incorporated a step-down subsidiary, AOL Projects JLT in Dubai.
-Open Offer: The promoters had recently made an open offer to buyback 31,325,227 shares representing 20% of the total diluted paid up capital / voting share capital at Rs 7 per share.