Tata Elxsi net zooms 239 percent in fiscal 2013-14

Leading IT products and solutions firm Tata Elxsi reported net profit of Rs.71.3 crore for the fiscal 2013-14, registering a whopping 239 percent increase year-on-year (YoY) from Rs.21.3 crore in the last fiscal.

"Consolidate revenue for the fiscal under review (FY 2014) increased 25 percent YoY to Rs.775 crore from Rs.622 crore year ago," the city-based company said in a statement here Tuesday.

"Profit before tax rose to Rs.112 crore from Rs.33 crore year ago, posting an increase of 236 percent YoY," the statement noted.

For fourth quarter (January-March) of the fiscal under review, income increased 29 percent YoY to Rs.212 crore from Rs.163 crore year ago and profit before tax to Rs.35.5 crore from Rs.12.7 crore, registering an increase of 180 percent YoY.

"On a sequential basis, operating income grew six percent and profit before tax eight percent," the statement added.

As part of the $100-billion Tata group, the company addresses communications, consumer products, defence, healthcare, media and entertainment, semi-conductor and transportation sectors.

The company's key services include embedded product design, industrial design, animation & visual effects and systems integration.