Tata Elxsi jumps after robust Q3 earnings

Tata Elxsi jumped 4.53% to Rs 379.95 at 15:30 IST on BSE after net profit surged 146.57% to Rs 21.55 crore on 27.73% increase in net sales to Rs 200.12 crore in Q3 December 2013 over Q3 December 2012.

The result was announced during trading hours today, 27 January 2014.

Meanwhile, the BSE Sensex was down 389.88 points, or 1.84%, to 20,743.68.

On BSE, so far 6.67 lakh shares were traded in the counter, compared with an average volume of 3.78 lakh shares in the past one quarter.

The stock hit a high of Rs 383.80 and a low of Rs 352.35 so far during the day. The stock hit a record high of Rs 427.80 on 30 December 2013. The stock hit a 52-week low of Rs 156.10 on 28 August 2013.

The stock had underperformed the market over the past one month till 24 January 2014, sliding 2% compared with the Sensex's 0.48% rise. The scrip had, however, outperformed the market in past one quarter, rising 85.27% as against Sensex's 1.97% rise.

The small-cap company has an equity capital of Rs 31.14 crore. Face value per share is Rs 10.

Tata Elxsi's net profit rose 8.13% to Rs 21.55 crore on 5.35% increase in net sales to Rs 200.12 crore in Q3 December 2013 over Q2 September 2013.

Tata Elxsi is a global product engineering services provider that works with leading OEMs and semiconductor companies across consumer electronics, broadcast, wired and wireless communications and automotive verticals. As part of the Tata group, Tata Elxsi addresses the communications, consumer electronics, healthcare, media & entertainment, semiconductor and transportation sectors. Key services include product engineering, industrial design, animation & visual effects and systems integration.

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