Tata Elxsi shares rose as a lot as 9.64 per cent to hit an all-time excessive of Rs 3,340 on the BSE a day after it reported March quarter earnings. The Bengaluru-based design-led expertise providers supplier – Tata Elxsi – reported web revenue of Rs 115.16 crore in January-March quarter that marked a rise of 40 per cent from web revenue of Rs 82 crore throughout the identical quarter final yr. (Track Tata Elxsi share price here)
Tata Elxsi’s income from operations rose 18 per cent yearly to Rs 518 crore in contrast with Rs 438.eight crore throughout the March quarter of final yr.
For monetary yr 2021, the corporate reported income of Rs 1,826.2 crore, registering a progress of 13.four per cent year-on-year (YOY). During the interval, firm generated revenue bfore tax of Rs 511.9 crore, registering a progress of 45.Three per cent YoY and crossing Rs 500 crore mark for the primary time within the firm’s historical past.
The progress was led by America and India with each reporting 21.1 per cent sequential progress whereas Europe grew by 1.6 per cent, Tata Elxsi stated in a press launch.
“It was a satisfying quarter with continued growth across offerings, industries and geographies. We continue to execute strongly on our growth aspirations with over 9% QoQ revenue growth in constant currency. Both Transportation and Media and Communications reported another steady quarter of sustained growth while our Healthcare business continues to grow faster. We have seen new customer additions and large deals in all three industry segments in the quarter,” Manoj Raghavan, CEO and Managing Director, Tata Elxsi stated in an announcement.
As of 1:43 pm, Tata Elxsi shares traded 6.35 per cent larger at Rs 3,239, outperforming the Sensex which was down 0.28 per cent.