Tata Elxsi Dec quarter Net rises over two-fold to Rs 21.55 cr

Design solutions firm Tata Elxsi today reported an over two-fold growth in consolidated net profit at Rs 21.55 crore for the third quarter ended December 31.
The Bangalore-headquartered firm had posted a net profit of Rs 8.74 crore in the year-ago period, it said in a BSE filing.
Consolidated net sales of the firm grew 28 per cent to Rs 200.12 crore in October-December this fiscal against Rs 156.67 crore in the same quarter of 2012-13 fiscal.
Commenting on the performance, Tata Elxsi CEO and Managing Director Madhukar Dev said: "The firm has registered continued growth across services and geographies. Its international revenues have grown quarter-on-quarter inspite of negative currency impact."

The company's profit also shown a consistent and significant increase on a year-on-year and quarter-on-quarter basis, he added.
Its services segment, comprising Embedded/Electronic design, Industrial Design and VFX services, grew by 30 per cent to Rs 183 crore year-on-year (year-on-year).
Going ahead, Dev said: "The company will continue to focus on scaling its Electronic Design and ID businesses, building domain centric capabilities and integrated offerings in select verticals, including broadcast and media, transportation, communications, semiconductor and medical electronics."
Tata Elxsi, part of the USD 100 billion Tata group, has offices includes Dubai, France, Germany, Japan, Malaysia, Singapore, South Africa, UAE, UK, and USA.