Tata Elxsi Q3 net profit up over 14% to Rs 75.4 cr

Tata Elxsi on Monday said its net profit has increased 14.2 percent to Rs 75.42 crore for the December 2019 quarter. The company had registered a net profit of Rs 65.99 crore in the year-ago period, Tata Elxsi said in a regulatory filing.

Its revenue from operations rose over 4 percent to Rs 423.43 crore for the said quarter from Rs 407 crore for the corresponding period a year ago, it added. Software development and services contributed Rs 409.8 crore, while system integration and support services accounted for Rs 13.63 crore of the said quarter's revenue.

In a statement, the company said it had reported all-round quarter-on-quarter (q-o-q) growth across key verticals, business divisions and geographies in the reported quarter. The transportation vertical grew 10.4 percent q-o-q, while healthcare grew faster at 40.6 percent.

Media and Communications delivered steady growth at 5.3 percent q-o-q. The design business also showed strong growth at 9.9 percent q-o-q. "This is a great quarter for the company with the highest ever top-line in its history with double-digit growth in transportation and Healthcare verticals," Tata Elxsi CEO and Managing Director Manoj Raghavan said.

This performance was led by strong execution and ramp-ups in large deals won in the previous quarters along with the addition of leading customers and wins in the electric vehicles, medical devices, and the OTT segments, he added.