TATA Elxsi Reported 3.6% QoQ and 8.3% YoY Growth

Providers of design-led technology services -Tata Elxsi (BSE: 500408 | NSE: TATAELXSI) announced its results for the fourth quarter ended March 31, 2020.

Highlights & Recognitions for Q4 FY20:

• Revenue from operations at ₨ 4388.9 million; growth of 3.6% QoQ, 8.3% YoY
• Growth across both key divisions

o   EPD grew by 4.1% QoQ, 10.6% YoY

o   IDV grew by 7.6% QoQ, 5.4% YoY

• Media & Communication vertical grew by 8.6% QoQ, 25.5% YoY
• Tata Elxsi won the coveted IF Design Award 2019 for the design concept of Mixed Reality (MR) Based Smart Assistive Wearable Devices

The company reported growth in both the key divisions – Embedded Product Design (EPD) and Industrial Design & Visualization (IDV) in the financial quarter ending Dec 31, 2019.

Within EPD, the growth was driven by Media & Communications vertical with 8.6% growth QoQ. Transportation vertical was flat showing initial signs of Covid-19 impact. Healthcare delivered another steady quarter.

“We delivered another quarter of steady performance despite the current global situation. The performance was aided by key wins in OTT video, broadband technology and digital transformation in the Media & Communications space, Regulatory compliance and new product development in the Healthcare vertical and connected car and infotainment programs in the automotive segment. We also added key customers in the rail and off-road segments, aiding the diversification into adjacent segments” said Manoj Raghavan, CEO and Managing Director, Tata Elxsi.