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Tata Elxsi Q1 success: Net profit up around 41% to Rs 68.8 crore

New Delhi: Design and technological innovation solutions supplier Tata Elxsi on Tuesday said its net profit has increased 41.1 per cent to Rs 68.87 crore for the June 2020 quarter.
The company had registered a net profit of Rs 48.79 crore in the calendar year-back time period, Tata Elxsi said in a regulatory filing.
Its revenue from functions rose about 10.7 for each cent to Rs 400.48 crore for the said quarter from Rs 361.71 crore for the corresponding period of time a year in the past, it included.
“It was a rather satisfying quarter – while we did see general sluggishness across all verticals at the close of final quarter and beginning of this quarter, the Media and Communications, and Healthcare verticals recovered strongly to post sequential progress,” Tata Elxsi CEO and Handling Director Manoj Raghavan stated.
Software improvement and solutions contributed Rs 390.42 crore, while procedure integration and support providers accounted for Rs 10.06 crore of the explained quarter’s revenue.
In a assertion, the business reported the growth was driven by its most significant division – Embedded Item Style (EPD).

In just EPD, the Media and Communications vertical grew by 23.3 per cent 12 months-on-12 months, while the health care vertical grew by 26.5 for every cent y-o-y.
Transportation vertical carries on to be impacted owing to muted sales and sales forecasts from OEMs (original products producers) top to reduction in spends and offer deferrals throughout the transportation value chain, the assertion explained.

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