Tata Elxsi Ltd's Q2FY19 standalone net profit rises 16.6% qoq to Rs82cr

The company’s standalone revenue stood at Rs403cr, up 5.4% qoq and 17.7% yoy.

Oct 08, 2018 09:10 IST India Infoline Research Team

Tata Elxsi Ltd Q2FY19

Standalone Results Q2FY19: (Rs in cr)

Q2FY19 QoQ (%)
Revenue 402.78 5.4
EBIT 100.64 0.2
EBIT Margin (%) 25 [129]
Net Profit (adjusted) 82.18 16.6
***EBIT margin change is bps
Tata Elxsi reported good set of numbers for Q2FY19. Revenue grew by 5.4% qoq to Rs403cr. EBIT came in at Rs101cr, up 0.22% qoq. EBIT margin contracted by 130bps qoq to 25%. Reported PAT grew by 16.6% qoq to Rs82cr.
  • Software development & services revenue grew by 6% qoq to Rs391cr. System integration & support services revenue declined by 11.6% qoq to Rs11cr.
  • EBIT margin expansion on qoq basis was aided by change in mix as Software development & services mix enhanced from 96.6% to 97.2% on qoq basis.
  • Software development & services margins improved by 186bps qoq to 33.1% and System integration & support services margins expanded by 642 bps qoq to 17.4%.
  • PAT growth on qoq basis was also aided by higher other income of Rs23cr vs. Rs8cr in Q1FY19.

Technical View:

Tata Elxsi Ltd is currently trading at Rs. 1,089, down by 51.15 points or 4.49% from its previous closing of Rs. 1,140.15 on the BSE.
The scrip opened at Rs. 1,141.25 and has touched a high and low of Rs. 1,162.05 and Rs. 1,056 respectively. So far 21,34,179 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

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