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Tata Elxsi Q3 outcomes: Net revenue up 39.5% at Rs 105 cr

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Tata Elxsi on Tuesday stated its web revenue has elevated 39.5 per cent to Rs 105.2 crore for the December 2020 quarter.

The firm had registered a web revenue of Rs 75.four crore within the year-ago interval, Tata Elxsi stated in a regulatory submitting.

Its income from operations rose 12.7 per cent to Rs 477.1 crore for the stated quarter from Rs 423.four crore within the corresponding interval final fiscal, it added.

In a press release, Tata Elxsi CEO and Managing Director Manoj Raghavan stated the corporate noticed all-round progress throughout industries and geographies.

“We continue to execute strongly on both top line and bottom line, with double-digit quarter-on-quarter revenue growth and industry-leading operating margins. Our Healthcare business continues to accelerate, while Media and Communications reported another strong quarter of sustained growth,” he stated.

Raghavan added that the corporate has seen new buyer additions and huge offers in each the industries within the quarter.

“We are seeing a sustained recovery in the automotive market for the second consecutive quarter. This quarter has seen OEMs reinitiating key R&D programs, leading to the resumption of projects as well as deals with Tier 1 suppliers. We have added new automotive customers, including a new age OEM in North America,” he stated.

The firm has additionally closed some massive offers, together with a multi-million greenback cope with a European Tier 1 provider for car electronics and software program, and with a North American Tier 1 provider for autonomous driving, Raghavan stated.

“The growth in our design business has been equally satisfying…We are entering the fourth quarter and a new year with the reinforced confidence of a strong deal pipeline across markets and industries, and capabilities in product engineering, design and digital, that make our offerings more relevant and our market position stronger than ever before,” he famous.

The firm’s headcount stood at 6,816 on the finish of December 2020 quarter.

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