Revenue increased 3.7% and net profit increased 3.2% for Tata Elxsi in Q3

Revenue increased 3.7% and net profit increased 3.2% for Tata Elxsi in Q3

Revenue increased 3.7% and net profit increased 3.2% for Tata Elxsi in Q3

The operating margin of the Bengaluru-based firm dropped to 29.5 percent, a decrease of 40 basis points (bps).

For the quarter that concluded in December, Tata Elxsi recorded a 3.2% increase in net profit from the previous quarter and a 6% increase from the previous year, totaling Rs 206.4 crore. To Rs 914.2 crore, revenue increased by 11.8 percent annually and 3.7 percent quarterly.

According to an exchange filing by Tata Elxsi, transaction wins and an increase in Software Defined Vehicle attachments contributed to the transportation segment's 2.7% quarter-over-quarter (QoQ) growth for Q3FY24.

Driven by new product engineering and regulatory services, the healthcare segment expanded 4.6% QoQ over the same time. The media and communications sector had a 0.6% quarter-over-quarter increase.

Tata Elxsi is a technology and design supplier that serves the automotive, broadcast, communications, healthcare, and transportation sectors.

The operating margin of the Bengaluru-based firm dropped to 29.5 percent, a decrease of 40 basis points (bps).

Our customers' trust in our unique design digital offering, delivery quality, and robust transaction pipeline, as we enter the latter quarter of this fiscal year, provide us the platform for sustained expansion." Director Tata Alexi was quoted by Chief Executive Officer and Managing Director Manoj Raghavan.

During the quarter, the firm hired 350 net new workers, bringing its total workforce to 13,221. Attrition decreased by 80 basis points to 12.9% for the December-ended quarter.