Tata Elxsi posts 39% jump in net profit during Sept quarter

Leading company of design-led technology services Tata Elxsi has announced a 39 per cent year-on-year growth in net profit at Rs 174.30 crore for the quarter ended September 30, 2022.

Revenues from operations for the reviewed quarter grew 28.2 per cent y-o-y to Rs763.20 crore while earnings before interest, taxes, depreciation, and amortisation (Ebitda) is at 28.7 per cent.

The company said earnings per share grew 39 per cent y-o-y to Rs27.98 for the reviewed quarterThe company said its growth was primarily volume-led, with all three segments of embedded product design (EPD), industrial design and visualisation (IDV) and system integration & support (SIS) showing robust growth of 3.8 per cent, 13.5 per cent and 26.2 per cent quarter-on-quarter, respectively.

On the company's performance, Tata Elxsi CEO and Managing Director Manoj Raghavan said, "We have delivered a quarter of steady growth amidst macro-economic uncertainty and currency headwinds in our key markets. We are seeing strong and sustained growth in the automotive and adjacent segments, led by our electric vehicle (EV) and digital capabilities. We are gaining market share in both automotive and media & communications, especially in Europe. The numbers are muted in the region due to unfavourable currency movement."

The company works across industries including automotive, broadcast, communications, health care and transportation.

Manoj Raghavan also said, "We are entering the second half of the financial year with a strong order book and a healthy deal pipeline across key markets and industries, and the confidence of customers in our technology capabilities and differentiated delivery models. Importantly, we have invested in capacity and capability building for engineering talent, leadership and technology that will drive our next phase of growth."

( With inputs from ANI )