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Tata Elxsi reports operating income of ₹926.5 Cr; PBT up 1.6% YoY

With the Q1FY25 earnings season underway, companies across sectors have started releasing their quarterly results for the April-June period. In a recent development, Tata Elxsi, one of the leading global design-led technology services provider, on Wednesday (July 10) announced its results for the first quarter ending June 30, 2024, through a stock exchange filing.

During the first quarter of fiscal year 2025 (Q1FY25), the company reported operating revenue of Rs 926.5 crore, up 2.3 per cent quarter-on-quarter (QoQ) and 9.0 per cent year-on-year (YoY).

The company maintained profitability with an operating margin (EBITDA) of 27.2 percent and a net margin (PBT) of 26.3 percent.

Moreover, the company’s profit before tax (PBT) stood at Rs 252.4 crore, up 1.6 per cent year-on-year.

Transport sector

In the transport sector, the company recorded a 5.3% quarter-on-quarter growth in constant currency (CC).

This growth was driven by factors such as deal wins and increased engagement in Software Defined Vehicle (SDV) solutions.

Tata Elxsi is one of the world’s leading providers of design-led technology services | Representative image

Media and Communication

Tata Elxsi’s media and communications segment grew by 0.5% quarter on quarter.

System integration services are growing rapidly

In the systems integration services segment, the company recorded quarter-on-quarter growth of 8.7% in CC terms.

Manoj Raghavan, CEO & Managing Director, Tata Elxsi, commenting on the company’s Q1 FY25 performance, said, “We are pleased to report strong Q1 results with revenue growth of 2.3% quarter-on-quarter and 9.0% year-on-year.”

“We delivered very well this quarter on operational excellence and fiscal discipline in terms of financial performance, despite the impact of an exceptional one-time expense in the quarter and an increase in the effective tax rate with the change in SEZ benefits for one of our facilities. Our investments in building our talent pool over the past few quarters provide us with strong levers to drive revenue growth and manage our financial performance,” he added.

Share performance

The company’s shares ended Wednesday at Rs 7,104.95, up 1.26 per cent.

Published: Wednesday, 10 July 2024, 07:25 PM IST