Tata Elxsi delivers growth in Q3 FY'24

Tata Elxsi, amongst the world's leading providers of design led technology services, announced its third quarter results for the period ending 31^st December 2023.

The company reported Rs 914.2 crore of operating revenue, a growth of 3.7 per cent QoQ.

Highlights of the Quarter Ended December 31, 2023:

Revenues from operations at Rs. 914.2 crore, + 3.7 per cent QoQ, + 11.8 per cent YoY
Operating revenue growth +3.0 per cent QoQ and +9.4 per cent YoY on constant currency basis
Operating Margin at 29.5 per cent; Net Margin (PBT) at 28.9 per cent
Profit Before Tax (PBT) at Rs. 274.1 Cr, +14.2 per cent YoY
Profit After Tax (PAT) at Rs. 206.4 Cr, +3.2 per cent QoQ, +6.0 per cent YoY
Earning Per Share (EPS) at Rs. 33.15, +3.2 per cent QoQ, +6.0 per cent YoY

Business Highlights:

Transportation growth at 2.7 per cent QoQ, 15.6 per cent YoY, aided by deal wins and ramp-up of Software Defined Vehicle (SDV) engagements.
Healthcare growth at 4.6 per cent QoQ, 13 per cent YoY, driven by new product engineering and regulatory services.
Media and Communications grew 0.6 per cent QoQ and 3.4 per cent YoY, performing creditably in a unfavourable environment for the entire media, telecom and technology industry.
Industrial Design revenue grew strongly at 12.3 per cent QoQ, leading with Design Digital.
System Integration services grew 14.7 per cent QoQ aided by some key deal wins and managed services.

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company's performance in the third quarter of FY24, said, "We are happy to report a healthy performance in the third quarter with a top-line growth of 3.7 per cent QoQ and 11.8 per cent YoY in a challenging and weak quarter for the industry. I am delighted with the recognition of our Design Digital capabilities with the German Design Award 2024 for excellence in design with the Gen 3 HMI. This award for the next generation automotive HMI design that we won along with Tata Motors, truly showcases the power of design when aligned seamlessly with technology."