Tata Elxsi shines on strong Q3 results
Tata Elxsi share price jumped over 8% Wednesday as strong earnings performance for the fiscal third quarter to December 2020 boost investor sentiment.
Tata Elxsi on January 12 said its net profit has increased 39.5% to Rs 105.2 crore for the December 2020 quarter. The company had registered a net profit of Rs 75.4 crore in the year-ago period.
Its revenue from operations rose 12.7% to Rs 477.1 crore for the said quarter from Rs 423.4 crore in the corresponding period last fiscal.
Tata Elxsi continue to execute strongly on both top line and bottom line, with double-digit quarter-on-quarter revenue growth and industry-leading operating margins.
Healthcare business continues to accelerate, while Media and Communications reported another strong quarter of sustained growth.
It has also closed some large deals, including a multi-million dollar deal with a European Tier 1 supplier for vehicle electronics and software, and with a North American Tier 1 supplier for autonomous driving.
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