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

14 Jan,2021
<p style="text-align: center;"><img title="1610604353288571.jpg" alt="8.jpg" src="/ueditor/php/upload/image/20210114/1610604353288571.jpg"/></p><p>Tata Elxsi&nbsp;on Tuesday said its net profit has increased 39.5 per cent to Rs 105.2 crore for the December 2020 quarter.<br/>The company had registered a net profit of Rs 75.4 crore in the year-ago period, Tata Elxsi said in a regulatory filing.<br/><br/>Its revenue from operations rose 12.7 per cent to Rs 477.1 crore for the said quarter from Rs 423.4 crore in the corresponding period last fiscal, it added.<br/><br/>In a statement, Tata Elxsi CEO and Managing Director Manoj&nbsp;Raghavan&nbsp;said the company saw all-round growth across industries and geographies.</p><p><br/></p><p>&quot;We continue to execute strongly on both top line and bottom line, with double-digit quarter-on-quarter revenue growth and industry-leading operating margins. Our&nbsp;Healthcare&nbsp;business continues to accelerate, while Media and Communications reported another strong quarter of sustained growth,&quot; he said.<br/><br/>Raghavan added that the company has seen&nbsp;new customer additions&nbsp;and large deals in both the industries in the quarter.<br/><br/>&quot;We are seeing a sustained recovery in the automotive market for the second consecutive quarter. This quarter has seen OEMs reinitiating key R&amp;D programs, leading to the resumption of projects as well as deals with Tier 1 suppliers. We have added new automotive customers, including a new age OEM in&nbsp;North America,&quot; he said.<br/><br/>The company has also closed some large deals, including a multi-million dollar deal with a European Tier 1 supplier for vehicle electronics and software, and with a North American Tier 1 supplier for autonomous driving, Raghavan said.<br/><br/>&quot;The growth in our design business has been equally satisfying...We are entering the fourth quarter and a new year with the reinforced confidence of a strong deal pipeline across markets and industries, and capabilities in product engineering, design and digital, that make our offerings more relevant and our market position stronger than ever before,&quot; he noted.<br/><br/>The company&#39;s headcount stood at 6,816 at the end of December 2020 quarter.</p>
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