Tata Elxsi surges 5%, hits record high on strong September quarter earnings

The company said it is back to pre-Covid momentum and that it expects this momentum to continue into H2FY21

Shares of Tata Elxsi rallied 5 per cent and hit a record high of Rs 1,533.55 on the BSE on Thursday after reporting 56 per cent year on year (YoY) growth in profit before tax (PBT) at Rs 110 crore in the July-September quarter (Q2FY21). The company's operational revenues grew 11.5 per cent YoY at Rs 430 crore. On sequential basis, revenues and PBT jumped 7.4 per cent and 17 per cent, respectively.

The company’s growth was driven by both its key businesses – Embedded Product Design (EPD) and Industrial Design & Visualisation (IDV).

The management said it