AXISCADES Engineering Technologies Ltd., (AXISCADES), Technology Company focusing on Product Engineering Solutions announced the financial results for the second (2nd) quarter of FY20.
AXISCADES delivered a strong performance in 2nd Quarter of FY20 and First Half of FY20 on the back of client focused sales strategy, strategic initiatives and growing business potential from existing Fortune 500 clients in addition to three new global logos.
Q2 FY20 Performance:
- Q2 EBITDA at Rs. 20.6 Crores.
- 3.1% growth in Total Income as compared to Q1 FY20
- 4.3x growth in Q2 PAT to Rs. 4.67 Crores as compared to Q1 FY20
- Significant expansion in EBITDA margins to a healthy 12.8% from 10.8% in Q1 FY20
The upswing in its results are an outcome of concrete efforts undertaken by the organization to build new technology solutions, scale its engagement, service offerings and cater to the Industry 4.0 needs of global OEMs and optimize its capabilities to deliver in an evolving market.
The company’s global fortune 500 clientele saw 3 new additions to its roster. AXISCADES’ key marque customers also placed their trust in the company’s abilities to deliver in newer service areas of their business, apart from existing engagements.