Tata Elxsi Ltd reports net profit of Rs. 113.37 crore in Q1FY22

TATA ELXSI LTD. has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.575.81 crores during the period ended June 30, 2021 as compared to Rs.525.22 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.113.37 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.115.16 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.18.21 for the period ended June 30, 2021 as compared to Rs.18.49 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 575.81 crs	₹ 525.22 crs	9.63%
Net Profit	₹ 113.37 crs	₹ 115.16 crs	-1.55%
EPS	₹ 18.21	₹ 18.49	-1.51%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.575.81 crores during the period ended June 30, 2021 as compared to Rs.413.93 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.113.37 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.68.87 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.18.21 for the period ended June 30, 2021 as compared to Rs.11.06 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 575.81 crs	₹ 413.93 crs	39.11%
Net Profit	₹ 113.37 crs	₹ 68.87 crs	64.61%
EPS	₹ 18.21	₹ 11.06	64.65%

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.

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.

I am especially delighted with our company having won the NASSCOM Engineering & Innovation Excellence Awards 2021 for Engineering Service Providers in all product categories. This recognition is a testimony to Tata Elxsi's DNA of bringing design and technology together, leadership in each vertical we operate in, and our differentiated solution and value driven approach to the market.

We are entering the second quarter with a strong order book and a healthy deal pipeline across key markets and industries."

Shares of TATA ELXSI LTD. was last trading in BSE at Rs. 4487.2 as compared to the previous close of Rs. 4368.45. The total number of shares traded during the day was 30034 in over 4142 trades.

The stock hit an intraday high of Rs. 4572.75 and intraday low of 4408.75. The net turnover during the day was Rs. 135083152.

Source : Equity Bulls

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