Results: Tata Elxsi Q4 net profit surges 40.3% to Rs 115.16 crore
Results: Tata Elxsi Q4 net profit surges 40.3% to Rs 115.16 crore

Tata Elxsi on Thursday said its net profit has increased 40.3 per cent to Rs 115.16 crore in the March 2021 quarter.

The company had registered a net profit of Rs 82.08 crore in the year-ago period, Tata Elxsi said in a regulatory filing.

Its revenue from operations rose 18.1 per cent to Rs 518.39 crore for the said quarter from Rs 438.88 crore in the corresponding period last fiscal, it added.

In FY21, the company's net profit increased 43.7 per cent to Rs 368.1 crore, while revenue grew 13.4 per cent to Rs 1,826.2 crore over the previous fiscal.

"It was a satisfying quarter with continued growth across offerings, industries and geographies," Tata Elxsi CEO and Managing Director Manoj Raghavan said in a statement.

The company continued to execute strongly on its growth aspirations with over 9 per cent quarter-on-quarter revenue growth in constant currency, he added.

"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," Raghavan said.

He noted that the company added key new customers, including a tier 1 operator and a leading medical device manufacturer in North America.

"We have also closed some large deals, including a multi-million dollar deal with a global OEM for an integrated connected vehicle program in one of their key markets that will leverage our IoT platform," he said.

The company's net headcount stood at 7,362, with the attrition rate at 7.4 per cent.

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