AXISCADES Technologies Limited — Board Meeting, 12-11-2024: Outcome of Board Meeting

The Board of AXISCADES Technologies Limited has approved the un-audited financial results for the quarter and half-year. The company reported a total income of ₹26,903.42 lakhs for the quarter, up from the previous ₹25,360.90 lakhs. A loss of ₹123.65 lakhs was noted, reversing from a profit in the same quarter last year. Additionally, the Board sanctioned a fundraising initiative through the issue of unrated unlisted secured non-convertible debentures for ₹50 crores, aimed at reducing existing debt costs. This move is expected to lower annual finance expenses by up to ₹1 crore.