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Tata Elxsi Q1 results: Profit rises over 64% to Rs 113.4 crore

New Delhi: Design and technology services provider on Thursday said its net profit has increased by 64.6 per cent to Rs 113.4 crore for the June 2021 quarter. The company had registered a net profit of Rs 68.9 crore in the year-ago period, Tata Elxsi said in a regulatory filing.

Its revenue from operations rose 39.4 per cent to Rs 558.3 crore for the said quarter from Rs 400.5 crore for the corresponding period a year ago, it added.

“We are pleased to report a strong start to the new fiscal with all-round growth across industries and key geographies. We continue to execute strongly on both top line and bottom line…We are entering the second quarter with a strong order book and a healthy deal pipeline across key markets and industries,” Tata Elxsi CEO and Managing Director Manoj Raghavan said.

He added that the company is seeing sustained recovery in the automotive market for the third consecutive quarter, and has also won large and strategic deals with both OEMs and suppliers in EV and autonomous technologies.

The company has also won strategic deals in digital health, OTT and video platform development, he said.

In an investor presentation, the company said Embedded Product Design (EPD) – its largest division – grew by 31.4 per cent year-on-year. Industrial Design and Visualisation (IDV) grew by 132.1 per cent y-o-y.

Within EPD, growth was broad-based across industry verticals. Healthcare continues to grow faster than the other industry verticals with growth of 80.2 per cent y-o-y. Media and Communications delivered another steady quarter with 31.6 per cent y-o-y growth. Transportation continued to show revival with 20.1 per cent y-o-y growth, it said.

The growth was led by Americas with 69.3 per cent y-o-y Growth, while Europe grew by 30.1 per cent y-o-y and India by 47.6 per cent y-o-y.

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