The Hindu Business Line : Tata Elxsi posts 50% jump in net profit

TATA Elxsi, the technical computing arm of the Tata Group, has reported a 50 per cent jump in net profits for the year-ended March 31, 2004. It its sales revenues grew by 40 per cent during the year compared to the corresponding period last year.

The company registered a net profit of Rs 17.54 crore on sales revenue of Rs 153.48 crore for the year ended March 31, 2004 against a net profit of Rs 11.68 crore on revenue of Rs 109.6 crore in the previous year.

The board of director of Tata Elxsi has decided to pay a dividend of Rs 4 per share (40 per cent on face value of Rs 10 per share), said a company press release.

Tata Elxsi's software development and services segment recorded revenues of Rs 94.11 crore during fiscal 2003-04 compared to Rs. 77.57 crore last year, while its System Integration division, which caters to the domestic market, contributed Rs. 60.13 crore during the year compared to Rs. 33.12 crore the previous year.