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Aksh Optifibre Reports Profits Of Rs 6.51 Crore

IPTV and VoIP services company Aksh Optifibre has reported a quarter of profits: its total income for the quarter ended December 31st 2011 decreased sequentially to Rs 65.05 crore, from Rs 66.42 crore reported last quarter, but increased on a YoY basis from Rs 32.55 crore reported in Q3 FY11; and its profit for the quarter has increased to Rs 6.51  crore, from  Rs 4.94 crore that it reported in the last quarter. Note that of this, Rs 64.39 crore is classified as Income from operations, which is down sequentially from Rs 65.36 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 2.98 crore, a minor increase compared to Q2-FY12′s income of Rs 2.97 crore. The company’s standalone profit was Rs 2.72 crore, an increase compared to the profit of Rs 1.85 crore that it registered in the previous quarter and to the loss of Rs 1.76 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 3.44 crore for the quarter and reported losses of Rs 2.35 crore.

During the quarter, the company made an open offer to buy back 31,325,227 shares, representing 20% of the total diluted paid up capital at a value of Rs 7 per share. The promoters currently own a 13.23% stake in the company. After the buyback their total stake would increase to 33.23%.

Financials

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