Tata Elxsi Q4 results: Consolidated net profit rises 26% to Rs 202 cr

The board of directors has recommended a final dividend of 606% at Rs 60.60 per share for the financial year 2022-23

Tata Elxsi Ltd, on Thursday, posted a consolidated net profit of Rs 202 crore for the March quarter. This is 26.25 per cent rise from Rs 160 crore a year ago, the company statement said.

The company’s consolidated revenue from operation rose by 22.87 per cent to Rs 838 crore for the March quarter as compared to Rs 682 crore in the year-ago period.

In a regulatory filing, Tata Elxsi said, “the board of directors has recommended a final dividend of 606 per cent at Rs 60.60 per share for the financial year 2022-23, subject to tax, which shall be paid/dispatched on or after the seventh day from the conclusion of the 34th Annual General Meeting, subject to the approval of the shareholders of the company.”

“Financial year 2023 has been another year of strong operational performance, driving healthy revenue growth and strong margins despite the macroeconomic uncertainties and challenges that the industry has been facing since last few quarters. In a matter of just two financial years, our top line has grown by 72 per cent to Rs 3,144.7 crore and our PAT has almost doubled to Rs 755.2 crore,” said Manoj Raghavan CEO and MD of Tata Elxsi Ltd.

“We are entering the new financial year with a strong commitment to keep our growth momentum going, and the continued confidence of our customers in our differentiated design-led engineering capabilities,” he added.

The company reported transportation growth at 27.4 per cent YoY, aided by large deals and growth across customers in EV, software defined vehicles (SDV) and adjacencies.

Healthcare growth at 20.5 per cent YoY, driven by new product engineering, digital health and regulatory services, the company said in BSE filing.

Tata Elxsi’s media and communications grew 9.2 per cent YoY in a challenging quarter for the industry, aided by platform-led deals andincreased wallet share in key accounts.