India's AXISCADES Technologies drops as expenses dent Q4 profit

Axiscades Technologies

21/05/2024 10:00

** Shares of AXISCADES Technologies  AXIT.NS  down 10.6% at
545 rupees
    ** Technology services provider on Monday reported 45.3% Y/Y
fall in Q4 profit as total expenses surged
    ** Rev from ops grew 14.5%, while total expenses grew 22.6%
due to higher employee expenses
    ** Co on Tuesday said demand slowdown in a large OEM may
have a possible impact in its automotive revenues in H1 FY25
    ** More than 334,000 shares traded in busiest session since
early-April; vols at 5.8x of 30-day avg
    ** Stock fell 13.22% in March quarter, its biggest quarterly
fall since March 2021

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))