Tata Elxsi gains after good Q4 performance

Tata Elxsi rose 1.86% to Rs 743.35 after the company's standalone net profit jumped 15.1% to Rs 82.08 crore on an 8.3% increase in net sales to Rs 438.89 crore in Q4 March 2020 over Q4 March 2019.

The result was announced after market hours yesterday. Profit before tax (PBT) rose 2.8% year-on-year (YoY) to Rs 109.76 crore, due to higher total expenditure (up 7.7% YoY). Tax expenses fell 25.6% to Rs 25.79 crore in Q4 March 2020 over Q4 March 2019.

Sequentially, the net profit rose 8.9% to Rs 82.08 crore on 3.65% rise in net sales to Rs 438.89 crore in Q4 March 2020 over Q3 December 2019. The company has also declared a final dividend of Rs 16.50 per share.

Tata Elxsi's net profit fell 11.7% to Rs 256.10 crore on a 0.8% rise in net sales to Rs 1609.86 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT for FY20 stood at Rs 352.44 crore, down 18.7% from Rs 433.40 crore in FY19.

Tata Elxsi manufactures computers and workstations besides providing system design, software development and integration services. The Group supplies its products to a number of industries, including the automotive, metals, consumer products, finance, IT & Communications, energy, chemicals, engineering, pharmaceuticals, entertainment and agro industries.

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