 "Tata Elxsi net profit rises 58.9% to Rs 125 crore in September quarter")
Tata Elxsi on Friday said its net profit increased 58.9 per cent to Rs 125.3 crore in September 2021 quarter.
The company had registered a net profit of Rs 78.8 crore in the year-ago period, Tata Elxsi said in a regulatory filing.
Revenue from operations rose to Rs 595.3 crore in the quarter under review from Rs 430.1 crore in the corresponding period last fiscal, it added.
The company's growth was powered by Embedded Product Design (EPD), the company's largest division, at 10.6 per cent quarter-on-quarter and 34.4 per cent year-on-year in constant currency terms, it said.
Within EPD, the automotive business posted a smart double-digit q-o-q growth of 12.9 per cent and 29 per cent y-o-y, led by Electric and Autonomous technologies, and a strong deal inflow and pipeline provides confidence for continued growth in the transportation vertical, it added.
Media & Communications delivered a steady quarter with 7.8 per cent q-o-q and 32.9 per cent y-o-y growth respectively, while Healthcare grew 6.6 per cent q-o-q and 72.3 per cent y-o-y.
Also Read
The Design business (IDV) continued to win new customers and fuel strategic deal wins in design-led digital projects for the company.
This quarter saw an impact due to a shift in program timelines for a large ongoing design-led innovation project, with a q-o-q decline of 14.2 per cent.
On a y-o-y basis, IDV reported a smart growth of 64.5 per cent.
We are pleased to report another quarter of steady growth across industry verticals and continue to execute strongly on both top line and bottom line. We are seeing significant growth in the automotive market, with large and strategic deals with both OEMs and suppliers in EV and autonomous technologies, underscoring our technology and engineering leadership," Tata Elxsi CEO and Managing Director Manoj Raghavan said.
He added that the "superior topline and bottom-line performance" was supported by operational excellence and talent retention.
"We also added over 700 new Elxsians this quarter, which represents almost 9 per cent of our headcount in the previous quarter. We are entering the third quarter with a strong order book and a healthy deal pipeline across key markets and industries, he said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)