Tata Elxsi Posts Revenue Growth of 39.4% YoY and PAT Growth of 64.6% YoY
The company reported ₨ 558.3 Cr of revenue from operations for Q1 FY22, registering a growth of 39.4% YoY. During the period reported, the company generated PBT of Rs 153.9 Cr, registering a growth of 63.9% YoY. The company’s net profit for the quarter stood at Rs 113.4 Cr, reporting a growth of 64.6% YoY.
Tata Elxsi (BSE: 500408 | NSE: TATAELXSI), amongst the world’s leading providers of design-led technology services, announced its results for the first quarter of FY 2021-22 ended June 30, 2021. The company reported ₨ 558.3 Cr of revenue from operations for Q1 FY22, registering a growth of 39.4% YoY. During the period reported, the company generated PBT of Rs 153.9 Cr, registering a growth of 63.9% YoY. The company’s net profit for the quarter stood at Rs 113.4 Cr, reporting a growth of 64.6% YoY.
Highlights of the Quarter Ended June 30, 2021
- Revenues from operations at Rs. 558.3 Cr, +7.7% QoQ, +39.4% YoY
- Total income at Rs. 575.8 Cr, +9.6% QoQ, +39.1% YoY
- Tata Elxsi won all three Product Award Categories for Engineering Service Providers at the NASSCOM Engineering & Innovation Excellence Awards 2021
o Next-gen Product of the Year: Connected Vehicle IoT platform, Tether
o Engineered in India Product of the Year: OTT and Video Test Automation & proactive QoE monitoring platform, FalconEye QoEtient
o Social Impact solution of the Year: Gazelle, a breakthrough point-of-care diagnostic device for malaria and sickle-cell disease screening developed for our customer Hemex Health
The company’s growth was driven by both its key businesses, with Embedded Product Design (EPD), the company’s largest division growing by 7.5% QoQ and 31.4% YoY and Industrial Design & Visualization (IDV) posting a smart growth of 13.9% QoQ and 132.1% YoY.
The growth was led by Americas with 17.5% QoQ and 69.3% YoY Growth. Europe grew by 5.4% QoQ and 30.1% YoY. India grew by 2.8% QoQ and 47.6% YoY.
Within EPD, growth was broad-based across industry verticals. Healthcare continues to grow faster than the other industry verticals with growth of 19.3% QoQ and 80.2% YoY. Media & Communications delivered another steady quarter with 8% QoQ and 31.6% YoY growth. Transportation continues to show revival with 3.4% QoQ and 20.1% YoY growth.
Commenting on the performance, Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi said, “We are pleased to report a strong start to the new fiscal with all-round growth across industries and key geographies. We continue to execute strongly on both top line and bottom line. Our Healthcare business continues to grow strongly, while both Transportation and Media and Communications reported another quarter of sustained growth.”
He also said, “We are seeing sustained recovery in the automotive market for the third consecutive quarter. We have also won large and strategic deals with both OEMs and suppliers in EV and autonomous technologies, underscoring our technology and engineering leadership. This is reflected in both the industry and geography growth we have reported in the quarter. We have also won strategic deals in digital health, OTT and video platform development, which reflect on our ability to support the product and technology transformation agendas of customers in our key verticals.”