Tata Elxsi shares zoom nearly 10 pc after Q4 earnings

New Delhi, April 23 dmanewsdesk:  Shares of Tata Elxsi gained nearly 10 per cent in morning trade on Friday after the company’s net profit increased 40.3 per cent in the March 2021 quarter.

The stock jumped 9.64 per cent to Rs 3,340 — its 52-week high — on the BSE.

At the NSE, it zoomed 9.57 per cent to its 52-week high of Rs 3,340.

Tata Elxsi on Thursday said its net profit has increased 40.3 per cent to Rs 115.16 crore in the March 2021 quarter.

The company had registered a net profit of Rs 82.08 crore in the year-ago period, Tata Elxsi said in a regulatory filing.

Its revenue from operations rose 18.1 per cent to Rs 518.39 crore for the said quarter, from Rs 438.88 crore in the corresponding period last fiscal, it added.

In FY21, the company’s net profit increased 43.7 per cent to Rs 368.1 crore, while revenue grew 13.4 per cent to Rs 1,826.2 crore over the previous fiscal.

“It was a satisfying quarter with continued growth across offerings, industries and geographies,” Tata Elxsi CEO and Managing Director Manoj Raghavan said in a statement.

The company continued to execute strongly on its growth aspirations with over 9 per cent quarter-on-quarter revenue growth in constant currency, he added

Source: PTI