Tata Elxsi spurts about 13% in five days

Tata Elxsi rose 1.72% to Rs 923, extending gains for fifth session on the back of encouraging Q3 results.

On standalone basis, Tata Elxsi reported a 51.43% jump in net profit to Rs 75.42 crore in Q3 December 2019 as against a net profit of Rs 49.80 crore in Q2 September 2019. Revenue from operations rose 9.75% to Rs 423.43 crore on quarter-on-quarter (QoQ) basis.

The company reported all-round QoQ growth across key verticals, business divisions and geographies in the financial quarter ending 31 December 2019. The transportation vertical grew by 10.4% QoQ while healthcare grew faster at 40.6%. Media and Communications delivered another quarter of steady growth at 5.3% QoQ. The design business also showed strong growth at 9.9% QoQ.

 

The result was announced during market hours on Monday, 13 January 2020. The stock jumped 5.17% to end at Rs 891.20 on Monday. It has risen 12.46% in five trading sessions from its previous closing low of Rs 820.75 on 8 January 2020.

Tata Elxsi is a global provider of design and technology services for product engineering and solutions across industries including broadcast, communications and automotive.

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