Tata Elxsi soars 11%, hits new high on strong December quarter results

Going forward, the company is expected to report robust numbers based on multiyear large deals won by the company and ramp up of previous deals

Tata Elxsi share price soared 11 per cent to hit a new high of Rs 2,299 on the BSE on Wednesday after the company reported strong December quarter results (Q3FY21) with double digit quarter on quarter (QoQ) revenue growth and industry leading operating margins.

Tata Elxsi’s revenues increased 10.9 per cent QoQ at Rs 477 crore. In constant currency terms revenues grew 10 per cent QoQ mainly led by growth in transportation, broadcast & communication and healthcare segment. Ebit (earnings before interest and tax) margins increased around 300 basis points (bps) to 27.8 per cent. Profit after tax (PAT)