19 Jan 2022 , 02:16 PM
Tata Elxsi stock was in the fast lane on Wednesday after the company recorded a net profit of Rs151cr in the quarter ending December 2021 (Q3Fy22) reporting a growth of 20.4% QoQ and 43.5% YoY.
The company reported ₨ 635.4 Cr of revenue from operations for Q3 FY22, registering a growth of 6.7% QoQ & 33.2% YoY. EBITDA for the quarter grew 14.8% QoQ and 46.8% YoY to 210.8 Cr, while PBT grew 17.1% QoQ and 36.9% YoY to Rs200.3 Cr.
The company delivered industry-leading bottom-line performance and crossed the Rs200 Cr PBT and Rs150 Cr PAT milestones for the first time in its history.
Manoj Raghavan, CEO and Managing Director, Tata Elxsi said: “We are pleased to report another quarter of consistent and strong growth, supported by differentiated offerings and industry-leading operational excellence," adding, "We continue to execute strongly on all our key strategies, driving growth across our three primary industry verticals and regions, building on our software and digital product engineering capabilities."
"We are seeing significant growth in the automotive market, with large and strategic deals with both OEMs and suppliers across Electric, Autonomous, Connected and Digital, underscoring our technology and engineering leadership," the CEO and MD added.
In segment-wise performance, the company’s growth was powered by Embedded Product Design (EPD), the company’s largest division, which grew at 9.9% QoQ and 36% YoY. Within EPD, the Transportation business posted the third quarter of strong growth of 9.7% QoQ and 30.9% YoY, with secular growth across Electric, Autonomous and Connected technologies, and continued momentum with both OEMs and suppliers for design, technology and digital services across geographies.
Further, Media & Communications delivered another quarter of consistent growth with 6.5% QoQ and 31.1% YoY growth respectively, supported by the addition of marque global customers, and strategic platform and solution-led multi-year deal win. Healthcare continued its accelerated growth at 22% QoQ and 73.4% YoY, supported by large deals and continued growth in digital health, digital engineering and regulatory services. The Design business (IDV) continues to fuel strategic design-led digital deal wins for the company with a growth of 61.7% on a YTD basis.
For the fourth quarter, the MD and CEO said, "We are entering the fourth quarter with the confidence of a strong order book and a healthy deal pipeline across key markets and industries”
At around 2.13 pm, Tata Elxsi was trading at Rs6936.95 per piece skyrocketing by Rs566.45 or 8.9% on Sensex. The stock has hit a new 52-week high of Rs7171.15 per piece.
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