AXISCADES Engineering Technologies has logged robust margin growth in Q3FY19 as Engineering Design Services revenue grew 12.3% Q-o-Q despite lower working days and holiday season in 3rd quarter. With two new logos and increasing investments from existing customers, AXISCADES looks to capitalize on the momentum driven by expanding engineering needs.
There is a significant improvement in order book and pipeline in strategic solutions division. During Q3FY19, Company has won contracts totaling to $ 20 million, the execution of which improve revenues and margins of this segment in the coming quarters. Pipeline continues to be robust.
During the quarter, Consolidated EBIDTA Margins improved to 7.6% from negative in the immediate previous quarter on the back of cost reduction initiatives and improvement in utilization. Robust order book coupled with various initiatives being undertaken sets the stage for a strong performance in FY19-20.
AXISCADES Engineering Technologies is engaged in the business of rendering engineering design services and is also into Software Development. Axis IT&T EDS unit offers such services as product design, design support and design validation. The Software Development Services comprise of providing interactive voice response applications.
