Tata Elxsi has surged 15% to Rs 225 after reporting over ten-fold jump in consolidated net profit at Rs 19.93 crore for the second quarter ended September 2013 (Q2) on back of higher other income due to foreign exchange gain. The Tata Group IT software products maker had profit of Rs 1.81 crore in a year ago quarter.
The company has earned forex gain of Rs 5.59 crore during the reported quarter against loss of Rs 2.81 crore in the corresponding quarter of previous fiscal.
Total income from operations grew 22.6% at Rs 190 crore against Rs 155 crore in last year quarter, Tata Elxsi said in a statement.
The stock opened at Rs 197 and touched low of Rs 193 on BSE before announcement of the results. A combined 1.93 million shares have changed hands on the counter till 1425 hours on NSE and BSE.
The company has earned forex gain of Rs 5.59 crore during the reported quarter against loss of Rs 2.81 crore in the corresponding quarter of previous fiscal.
Total income from operations grew 22.6% at Rs 190 crore against Rs 155 crore in last year quarter, Tata Elxsi said in a statement.
The stock opened at Rs 197 and touched low of Rs 193 on BSE before announcement of the results. A combined 1.93 million shares have changed hands on the counter till 1425 hours on NSE and BSE.