Tata Elxsi Q3 PAT jumps 43% YoY to Rs 151 cr

The Tata Group company's net profit jumped 43.49% to Rs 150.95 crore on 33.18% increase in revenue from operations to Rs 635.41 crore in Q3 December 2021 over Q3 December 2020.

Tata Elxsi's net profit grew 20.4% and revenue from operations rose 6.7% in Q3 December 2021 over Q2 September 2021. Constant currency revenue rose 6.5% quarter-on-quarter (QoQ) and 32.7% year-on-year (YoY).

EBITDA for the quarter grew 14.8% QoQ and 46.8% YoY to 210.8 crore, while profit before tax (PBT) grew 17.1% QoQ and 36.9% YoY to 200.3 crore. PBT margin increased from 28.6% in Q2 to 31.2% in Q3. EBITDA margin stood at 33.2% and net margin was at 23.5%.

The company crossed the 200 crore PBT and 150 crore PAT milestones for the first time in its history.

The growth was powered by Embedded Product Design (EPD), the company's largest division, which grew at 9.9% QoQ and 36% YoY.

The Industrial Design & Visualisation (IDV) business continues to fuel strategic design-led digital deal wins for the company with a growth of 12.4% YoY and 61.7% on a YTD basis.

Manoj Raghavan, CEO and managing director, Tata Elxsi said: "We are pleased to report another quarter of consistent and strong growth, supported by differentiated offerings and industry leading operational excellence. We continue to execute strongly on all our key strategies, driving growth across our three primary industry verticals and regions, building on our software and digital product engineering capabilities.

We are seeing significant growth in the automotive market, with large and strategic deals with both OEMs and suppliers across Electric, Autonomous, Connected and Digital, underscoring our technology and engineering leadership.

We have won strategic multi-year large deals this quarter against the best global competitors in all three industries, which clearly underscores the differentiation we bring to our customers, and the relevance of our design-led technology capabilities.

The superior topline and bottom-line performance was supported by industry-leading operational excellence and talent retention. We are continuing to invest in our talent pipeline to support continued growth.

We are entering the fourth quarter with the confidence of a strong order book and a healthy deal pipeline across key markets and industries."

Tata Elxsi is amongst the world's leading providers of design and technology services across industries including transportation, media, communications and healthcare & medical devices. It provides integrated services - from research and strategy to electronics and mechanical design, software development, validation and deployment, and is supported by a network of design studios, global development centers and offices worldwide.

Shares of Tata Elxsi fell 0.32% at Rs 6370.50 today.

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