Companies

Tata Elxsi Q3 net profit up over 14 per cent to Rs 75.4 crore

PTI New Delhi | Updated on January 13, 2020 Published on January 13, 2020

Tata Elxsi CEO and Managing Director Manoj Raghavan

Its revenue from operations rose over 4 per cent to Rs 423.43 crore

Tata Elxsi on Monday said its net profit has increased 14.2 per cent to Rs 75.42 crore for the December 2019 quarter.

The company had registered a net profit of Rs 65.99 crore in the year-ago period, Tata Elxsi said in a regulatory filing.

Its revenue from operations rose over 4 per cent to Rs 423.43 crore for the said quarter from Rs 407 crore for the corresponding period a year ago, it added.

Software development and services contributed Rs 409.8 crore, while system integration and support services accounted for Rs 13.63 crore of the said quarter’s revenue.

In a statement, the company said it had reported all-round quarter-on-quarter (q-o-q) growth across key verticals, business divisions and geographies in the reported quarter.

The transportation vertical grew 10.4 per cent q-o-q, while healthcare grew faster at 40.6 per cent.

Media and Communications delivered steady growth at 5.3 per cent q-o-q. The design business also showed strong growth at 9.9 per cent q-o-q.

“This is a great quarter for the company with the highest ever top-line in its history with double-digit growth in transportation and Healthcare verticals,” Tata Elxsi CEO and Managing Director Manoj Raghavan said.

This performance was led by strong execution and ramp-ups in large deals won in the previous quarters along with the addition of leading customers and wins in the electric vehicles, medical devices and the OTT segments, he added.

Published on January 13, 2020
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