Tata Elxsi Q3 results: Net profit up 39.5% at Rs 105 cr

Tata Elxsi on Tuesday mentioned its web profit has elevated 39.5 per cent to Rs 105.2 crore for the December 2020 quarter.

The corporate had registered a web profit of Rs 75.4 crore within the year-ago interval, Tata Elxsi mentioned in a regulatory submitting.

Its income from operations rose 12.7 per cent to Rs 477.1 crore for the mentioned quarter from Rs 423.4 crore within the corresponding interval final fiscal, it added.

In an announcement, Tata Elxsi CEO and Managing Director Manoj Raghavan mentioned the corporate noticed all-round development throughout industries and geographies.

“We proceed to execute strongly on each prime line and backside line, with double-digit quarter-on-quarter income development and industry-leading working margins. Our Healthcare enterprise continues to speed up, whereas Media and Communications reported one other sturdy quarter of sustained development,” he mentioned.

Raghavan added that the corporate has seen new buyer additions and enormous offers in each the industries within the quarter.

“We’re seeing a sustained restoration within the automotive marketplace for the second consecutive quarter. This quarter has seen OEMs reinitiating key R&D applications, resulting in the resumption of initiatives in addition to offers with Tier 1 suppliers. Now we have added new automotive prospects, together with a brand new age OEM in North America,” he mentioned.

The corporate has additionally closed some massive offers, together with a multi-million greenback take care of a European Tier 1 provider for car electronics and software program, and with a North American Tier 1 provider for autonomous driving, Raghavan mentioned.

“The expansion in our design enterprise has been equally satisfying…We’re getting into the fourth quarter and a brand new 12 months with the bolstered confidence of a robust deal pipeline throughout markets and industries, and capabilities in product engineering, design and digital, that make our choices extra related and our market place stronger than ever earlier than,” he famous.

The corporate’s headcount stood at 6,816 at the top of December 2020 quarter.

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