Tata Elxsi Ltd on Thursday announced its fiscal third quarter results with profit at Rs 199.01 crore, posting a drop of 3.59 per cent in comparison to Rs 206.43 crore recorded during the same quarter of previous financial year. It posted revenue from operations at Rs 939.17 crore, up 2.73 per cent as against Rs 914.23 crore posted during the third quarter of FY24. The company EBIT stood at Rs 220.7 crore
Manoj Raghavan, CEO and Managing Director, Tata Elxsi, said, “We are happy to report a steady quarter with revenue from operations at Rs 939.2 crore. During the quarter, EBITDA margins stood at 26.3 per cent and the PBT margin was reported at 26.1 per cent. We continue to see positive outcomes of our strategic business focus on Japan, emerging markets and capitalising on the India opportunity.”
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During the quarter, the company’s revenue from India grew by 21.9 per cent YoY, while Japan and emerging markets grew at 66.8 per cent on-year. “This will serve us well over the next few quarters even as we navigate geopolitical uncertainty, currency volatility and industry specific challenges in Europe and US,” Manoj Raghavan said.
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Tata Elxsi’s automotive industry saw significant business challenges in the past few months, with OEMs especially in the US and Europe reporting sales and growth challenges in their major markets. This, it said, impacted new deal closures, and Tier 1 supplier spend. Manoj Raghavan, however, maintained, “Amidst this business environment, Tata Elxsi continues to do well to win and execute on the large deals won over this year and demonstrate differentiated value to customers, to protect and grow revenues in a difficult quarter for the entire automotive industry.”
The Media & Communication business reported QoQ CC growth in a typically soft quarter which is affected by furloughs.
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