Tata Elxsi Q2 net profit up 13% at Rs 43 crore

Tata Elxsi on Thursday posted a 13% rise in the net profit at Rs 43 crore for the second quarter ended September 30, 2016.

The net profit stood at Rs 38 crore in the year-ago period.

During the July to September quarter, the company's total income from operations rose 15% to Rs 303.28 crore compared to Rs 263.6 crore for the corresponding period of previous year, according to a BSE filing by the company.

The company said that based on the recommendations of the nomination and remuneration committee, its Board has approved the re-appointment of Madhukar Dev as the managing director and CEO for a period from January 16, 2017 up to October 1, 2019, subject to the approval of the members of the company.

Shares of Tata Elxsi closed 2.44% lower at Rs 1,241.8 apiece on the BSE.