Shares of Axiscades Technologies rose nearly 10% in early deals on Tuesday after the technology and engineering solutions provider reported its Q1 earnings. Net profit rose 183% to Rs 17 crore in the June quarter against Rs 6 crore in the June 2023 quarter. Sales climbed 4.50% to Rs 223.26 crore in the quarter ended June 2024 as against Rs 213.64 crore during the quarter ended June 2023.
The multibagger stock rose 9.65% to Rs 554.40 against the previous close of Rs 505.60 on BSE. Market cap of the firm climbed to Rs 2214 crore.
Total 0.55 lakh shares of the firm changed hands amounting to a turnover of Rs 2.97 crore. The stock fell to a 52-week low of Rs 433.35 on June 5, 2024 and a 52 week high of Rs 848 on January 11, 2024.
Axiscades Technologies stock is trading neither in the overbought nor in the oversold zone, signals its relative strength index (RSI) which stands at 36.3. Axiscades Technologies shares are trading lower than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
Axiscades Technologies shares have delivered 310% and 485% returns in two and three years, respectively. At the end of June 2024 quarter, total order book for the company stood at $83.2 million.
However, EBITDA for the quarter caem at Rs 31 crore compared to Q1’24 at Rs 33 crore. EBITDA margins rose to 13.9% in Q1 as against 12.6% in Q4 FY24.
Axiscades Technologies Limited offers product engineering solutions across embedded software and hardware, digitisation and automation, mechanical engineering, system integration, test solutions, manufacturing engineering, technical publications, and aftermarket solutions.