 "Tata Elxi Q1 net rises three-fold to Rs 8.82 cr")
Tata Elxsi, the visual effects and animation arm of the diversified Tata Group, today reported an over three-fold rise in its consolidated net profit at Rs 8.92 crore for the first quarter ended June 30, 2013.
The firm had posted a net profit of Rs 2.61 crore in the year-ago period, the company said in a BSE filing.
Its consolidated net sales rose 18% to Rs 173.17 crore in the April-June quarter of 2013-14 fiscal against Rs 146.19 crore in the same quarter of previous fiscal.
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Earlier in April, the company had announced its partnership with Singapore-based AISB Holding Pte to incubate and provide greater market access for technology start ups in Asia.
A part of the USD 100 billion Tata Group, Tata Elxsi provides embedded product design, industrial design, animation & visual effects and systems integration among others.
Headquartered in Bangalore, it has offices in Dubai, France, Germany, Japan, Malaysia, Singapore, South Africa, UAE, the UK and the US.