On October 17, Tata Elxsi, the design and digital technology division of the Tata Group, reported a net profit of ₹200 crore for the quarter ending in September 2023. This represents a 14.8 percent annual increase from ₹174.3 crore in the previous year. Sequentially, it rose by 5.9 percent from ₹188.9 crore reported in the June 2023 quarter.
The company’s revenue from operations in Q2FY24 amounted to ₹881.7 crore, reflecting a 15.5 percent increase from ₹763.2 crore in the same period the previous year. Quarter-on-quarter, revenue increased by 3.7 percent from ₹850.3 crore recorded in the April-June period.
Tata Elxsi’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the September 2023 quarter reached ₹263.6 crore, showing a 16.3 percent increase compared to ₹226.5 crore in the corresponding period of FY23. Sequentially, EBITDA rose by 4.8 percent from ₹251.5 crore in the first quarter of the current fiscal year. The EBITDA margin in the July-September period was 29.9 percent, higher than the preceding quarter’s 29.6 percent and the year-ago period’s 29.7 percent.
On Tuesday, Tata Elxsi’s shares closed at Rs.7,480, marking a 0.04% increase on the NSE.