Tata Elxsi clocks 30% yoy growth in Revenue at Rs725.90 crore for Q1FY23; stock climbs ~4%

15 Jul 2022 , 12:55 PM

Tata Elxsi Limited delivered strong growth during the first quarter of the financial year ended June 30, 2022.

The company has reported revenue from operations at Rs725.90 crore in Q1FY23, registering a sequential growth of 6.5% and a year-on-year growth of 30%.

EBITDA for Q1FY23 registered a growth of 7.6% on a sequential basis. While it jumped by a whopping 58.8% yoy at Rs238.20 crore against the previous corresponding quarter.

Company’s PAT during the quarter stood at Rs184.70 crore, growing by 62.90% on yoy basis, and 15.4% on a QoQ basis.

The company’s growth was primarily driven by volume, with all three segments, EPD, IDV, and SIS, posting QoQ growth rates of 6.2%, 6.6%, and 19.8%, respectively.

Transportation business expands by 6.3% quarter on quarter and 41.8% yoy, aided by large deals and engagements in EV and Software Defined Vehicles.

The Healthcare business continues to grow at a rapid pace of 10% QoQ and 53.6% yoy, fuelled by digital health and global regulatory services.

Media and Communications logged 4.7% growth on a QoQ basis and 29% yoy growth, aided by continued growth in key accounts and large deals in network transformation and AdTech.

At around 1.00 PM, Tata Elxsi was trading at Rs8,088.30 per piece, up by Rs290.3 or 3.72% from its previous closing of Rs7,798 on the BSE. The scrip touched intraday high and low of Rs8,094.40 and Rs7,870 respectively.