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The shares of Aksh Optifibre Limited have experienced a significant surge, generating an impressive return of 35% in just three months. The stock began trading at Rs 10.86, remaining flat compared to the previous day’s closing price. However, during the intraday session, the stock witnessed a remarkable surge of 12.85% accompanied by a substantial increase in trading volume.

By the end of the day, the company’s shares concluded at Rs 11.93, representing a 10.36% increase from the previous day’s closing price. The stock’s 52-week high and low are Rs 14.35 and Rs 8.01, respectively, with a market capitalization of Rs 194 crore.

Alongside the surge in share price, Aksh Optifibre Limited’s financial performance in the June quarter of FY24 displayed some decline. Revenue from operations experienced a 27% year-on-year decline from Rs 79.93 crore to Rs 58.69 crore. The operating profit also fell from Rs 14.53 crore to Rs 7.74 crore, with an operating profit margin of 13.2%.

The company reported a net loss of Rs 1.80 crore, compared to a profit of Rs 1.61 crore during the same quarter last year. Moreover, its return on capital employed (ROCE) and return on equity (ROE) stood at 9% and 8%, respectively. The stock is trading at a price-to-book value of 2.6 times in the market.

Aksh Optifibre Limited, founded in 1986, is engaged in the manufacturing and selling of optical fiber, optical fiber cable, reinforced plastic rods, impregnated glass roving reinforcement, and ophthalmic lenses. The company caters to both domestic and international markets and provides e-Governance services, including numerous eGovernance kiosks in Rajasthan, as well as smart city/turnkey solutions and FTTH.

Disclaimer: This article is for informational purposes only and not investment advice.

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