Tata Elxsi Q2 results: Net profit up 14.8% YoY at ₹200 crore, revenue at ₹882 crore

livemint.com:

₹200 crore in the quarter ending September 2023, as per a regulatory filing made on October 17. The net profit has increased by 14.8 percent annually, as it stood at ₹174.3 crore in the year-ago period. Sequentially, it went up by 5.9 percent from ₹188.9 crore reported in the June 2023 quarter.

The company's revenue from operations in Q2FY24 came in at ₹881.7 crore, marking a jump of 15.5 percent from ₹763.2 crore reported in the comparable year-ago period. Quarter-on-quarter, the revenue increased by 3.7 percent from ₹850.3 crore registered in the April-June period. The earnings before interest, taxes, depreciation and amortisation (EBITDA) in the September 2023 quarter came in at ₹263.6 crore, higher by 16.3 percent as compared to 226.5 crore in the corresponding period of FY23.

Sequentially, the EBITDA jumped by 4.8 percent from ₹251.5 crore in the first quarter of current fiscal. EBITDA margin in the July-September period came in at 29.9 percent, higher as compared to 29.6 percent in the preceding quarter and 29.7 percent in the year-ago period. “I am happy to report a healthy top-line growth of 3.7 percent QoQ and 15.5 percent YoY in a challenging quarter for the industry.

Our EBITDA has grown 4.8 percent QoQ and 16.3 percent YoY and our EBITDA margin has improved by 31 bps QoQ to 29.9 percent. This underlines our strong focus on delivery and operational excellence, key account management and differentiated offerings," said Manoj Raghavan, CEO and Managing Director, Tata Elxsi. “Our transportation business, which accounts for 46.2 percent of the vertical revenues, witnessed strong growth of 6.9 percent QoQ and 19.1 percent YoY in constant currency.