Tata Elxsi Q1 Results: Net Profit Dips 3%, Revenue Up 9%

The company reported a 3% year-on-year (YoY) decline in net profit, which stood at ₹184.1 crore, compared to ₹188 crore in the same quarter of the previous fiscal year.

Tata Elxsi Ltd., a leading design and technology services firm, has released its first quarter results for the period ending June 30, 2024. The company reported a 3% year-on-year (YoY) decline in net profit, which stood at ₹184.1 crore, compared to ₹188 crore in the same quarter of the previous fiscal year.


Key Financial Highlights:

  • Net Profit: The net profit for the quarter fell 6.5% sequentially from ₹196.9 crore in the March 2024 quarter to ₹184.1 crore.
  • Revenue: Revenue from operations increased 9% YoY, reaching ₹926.5 crore compared to ₹850 crore in the corresponding period of the previous year. Sequentially, revenue saw a modest 2.3% rise.


Sector Performance:

  • Transportation: The transportation sector experienced a 5.3% quarter-on-quarter (QoQ) growth in constant currency (CC), driven by significant deal wins and the ramp-up of software-defined vehicle (SDV) engagements.

  • Media and Communications: Despite a challenging environment in the media and telecom industry, this sector achieved a 0.5% QoQ CC growth.
  • System Integration Services: Demonstrated robust growth of 8.7% QoQ CC.


Management Commentary:

Manoj Raghavan, CEO and Managing Director of Tata Elxsi, expressed satisfaction with the company's performance, stating, "We are happy to report a healthy performance in the first quarter with a top-line growth of 2.3% quarter-on-quarter and 9% year-on-year. Our healthcare & lifesciences business reported a decline in topline by 4.3% QoQ in constant currency. This is largely due to delay in renewals of some projects at one of our large customers."


Stock Market Reaction:

At 9.17 am, Tata Elxsi shares were quoting Rs 6,950.1 on the NSE, lower by 2.4 percent compared to the previous session's closing price.

Summary:

  • Net Profit: Down 3% YoY to ₹184.1 crore.
  • Revenue: Up 9% YoY to ₹926.5 crore.
  • Sector Growth: Transportation up 5.3% QoQ CC, Media and Communications up 0.5% QoQ CC, System Integration Services up 8.7% QoQ CC.
  • Stock Performance: Shares closed 1.43% higher at ₹7,118.80.

Tata Elxsi continues to show resilience in its operations despite the fluctuations in profit, driven by its strong performance across various sectors and strategic deal wins. The company's focus on maintaining robust growth in key areas like transportation and system integration services positions it well for future success.

Related Post

Blog Images

Godavari Biorefineries Makes Disappointing Market Debut; Lists at a 13% Discount

Read more
Blog Images

Canara Bank Q2 Results: Net Profit Climbs 11%, Asset Quality Shows Improvement

Read more
Blog Images

Suzlon Energy Q2 Results: Revenue Surges Past ₹2,000 Crore, Net Profit Nearly Doubles

Read more
Blog Images

BHEL Q2 Results: Net Profit Surpasses Expectations, Shares Soar

Read more
Blog Images

IndiGo Share Price Falls Over 13% on Disappointing Q2FY25 Results

Read more
Blog Images

Yes Bank Q2FY25 Results: Net Profit Jumps 10% QoQ, Total Income Rises 2.45%

Read more
Blog Images

Bandhan Bank Q2 FY25 Results: Net Profit Jumps 30% to ₹937 Crore, Beating Estimates

Read more
Blog Images

Bank of Baroda Q2 FY25 Results: Key Highlights and Performance Overview

Read more
Blog Images

IndusInd Bank Q2 Results: Net Profit Declines by 39.5% to ₹1,331 Crore

Read more
Blog Images

Hyundai Motor's Q3 Operating Profit Drops 7%, Misses Analysts' Estimates

Read more
Blog Images

Aster DM Healthcare Shares Surge 10% Post Strong Q2 Results, Tops Nifty 500 Gainers

Read more
Blog Images

Bajaj Finserv Q2 FY25 Results: Net Profit Rises 8%, Revenue Jumps 30%

Read more
Blog Images

Godrej Properties Q2 FY25 Results: Achieves 51% of Annual Booking Guidance in First Half

Read more
Blog Images

PNC Infratech Loses ₹3,200 Crore in Market Cap After a 27% Fall in Two Sessions

Read more
Blog Images

Paytm Stock Drops 4% as Rs 930 Crore Q2 Profit Fails to Impress Investors

Read more
Blog Images

Hyundai Motor India Listing: Shares of India's largest IPO debut at a discount to issue price

Read more
Blog Images

Gravita India Q2 Results: Net Profit Rises 26% to ₹72 Crore; Revenue Grows 11% to ₹927 Crore

Read more
Blog Images

Tata Consumer Products Shares Fall 9%, Top Nifty 50 Losers: Here's Why

Read more
Blog Images

HDFC Bank Q2 FY25 Results: Net Profit Rises 5% to Rs 16,821 Crore, Beating Estimates

Read more
Blog Images

Tech Mahindra Q2 Earnings: Profit Surges 153% YoY, Interim Dividend Declared

Read more
Blog Images

ICICI Lombard Q2 Results: Net Profit Jumps 20% to ₹694 Crore, Declares Interim Dividend

Read more
Blog Images

Tata Consumer Products Q2 Results: Net Profit Stays Flat at ₹359 crore, Beats Estimates

Read more
Blog Images

Oberoi Realty Q2 Results: Net Profit Jumps 28% to ₹589 Crore, Declares Second Interim Dividend

Read more
Blog Images

Manappuram Finance Shares Plunge 15% to 11-Month Low After RBI Action and Multiple Downgrades

Read more
Blog Images

Wipro Q2FY25 Results: Revenue Growth and Bonus Shares Announced

Read more
Blog Images

Axis Bank Q2 FY25 Results: Net Profit Up 18%, Operating Profit Rises 24%

Read more
Blog Images

Infosys Q2 FY25 Results - Revenue Growth Guidance Raised, Strong Performance Continues

Read more
Blog Images

Bajaj Auto Share Price Drops Over 10% After Q2 Results: Should You Buy the Stock?

Read more
Blog Images

L&T Technology Services Announces Interim Dividend of ₹17 Per Share, Fixes Record Date

Read more
Blog Images

TVS Holdings Board to Consider Fundraising Via Non-Convertible Debentures on October 23

Read more
Blog Images

KEI Industries Stock Drops 7% as Margins Shrink in Q2 FY25

Read more
Blog Images

SEBI Increases Index F&O Position Limits for Trading Members to ₹7,500 Crore

Read more
Blog Images

HDFC Life Q2 Results: Net Profit Climbs 15% YoY to ₹433 Crore

Read more
Blog Images

HCC Secures ₹1,031 Crore Contract to Build Two-Lane Bridge from MSRDC

Read more
Blog Images

Hyundai Motor India IPO: Key Risks Investors Should Be Aware of Before Subscribing to the ₹27,870 Crore Issue

Read more
Blog Images

Paytm Sees Increased Mutual Fund Interest in Q2FY25, Stock Soars 70%

Read more
Blog Images

IREDA Q2 Results: Net profit jumps 36.2% on year to ₹387.75 crore, revenue up 41.3%

Read more
Blog Images

VA Tech Wabag Rises 4% After Bagging Major Repeat Orders from Reliance Industries

Read more
Blog Images

Ratan Tata: Celebrating the Legacy of a Visionary Leader

Read more
Blog Images

Suzlon Energy Shares Decline to a Two-Month Low: Eight Consecutive Days in Red

Read more
Blog Images

HDFC Bank Q2 Business Update: Advances Grow 7%, Deposits Up 15% YoY

Read more
Blog Images

Dabur India Q2FY24 Results: Revenue Decline & Margin Hit Impact Shares

Read more
Blog Images

Swiggy IPO: Key Updates from Revised DRHP-I

Read more
Blog Images

Tech Mahindra Shares Receive a Boost with CLSA Upgrade Ahead of Earnings Report

Read more
Blog Images

Bharti Airtel Clears ₹8,465 Crore Spectrum Liabilities to Strengthen Balance Sheet

Read more
Blog Images

Indian Oil Corporation Withdraws ₹22,000 Crore Rights Issue

Read more
Blog Images

Ola Electric Falls Below ₹100 for the First Time Since Listing

Read more
Blog Images

KRN Heat Exchanger IPO Day 1: Strong Demand, GMP, Subscription Status, and Key Insights

Read more
Blog Images

AstraZeneca Shares Surge 13% After Cancer Drug Approval; Hits Record

Read more
Blog Images

Punjab National Bank Announces QIP at ₹109.16 per Share: Key Details Revealed

Read more
Blog Images

NTPC Green Energy Set to Launch ₹10,000 Crore IPO in November 2024

Read more
Blog Images

Vodafone Idea Shares Surge After $3.6 Billion Capex Deal with Vendors

Read more
Blog Images

HDFC Bank Stock Gains as Board Approves HDB Financial Services IPO Proposal

Read more
Blog Images

SpiceJet Board Approves ₹3,000 Crore QIP; Issues 48.7 Crore Shares at ₹61.60 Each

Read more
Blog Images

RBI Lifts Six-Month Ban on IIFL Finance’s Gold Loan Operations

Read more
Blog Images

Vodafone Idea Shares Plummet Nearly 20%: What's Next for Investors?

Read more
Blog Images

ION Exchange Surges 8% After Securing ₹161 Crore Order from Adani Power

Read more
Blog Images

Fed Meeting Outcome: Nifty IT Index Falls Nearly 3% Amid Market Uncertainty

Read more
Blog Images

Bajaj Housing Finance Extends Gains After 135% Listing Day Surge: Should Investors Book Profits?

Read more
Blog Images

Godfrey Phillips Shares Surge 10% Ahead of Bonus Issue Board Meeting

Read more
Blog Images

Suzlon Energy Hits 5% Upper Circuit on Morgan Stanley Earnings Boost Prediction

Read more
Blog Images

Suzlon Energy Secures Largest Renewable Energy Order from NTPC Green Energy

Read more
Blog Images

Shree Tirupati Balajee Agro Trading Company Limited IPO Details

Read more
Blog Images

Varun Beverages Announces Record Date for Stock Split; Shares Edge Higher

Read more
Blog Images

SEBI Tightens Criteria for Stocks in F&O Segment: A New Era of Market Quality Control

Read more
Blog Images

Nifty Pharma Reaches Record High as Three Stocks Gain Over 100% in a Year

Read more
Blog Images

Baazar Style Retail IPO Overview

Read more
Blog Images

Major Block Deal: IndiGo Shares Worth Over $1 Billion Change Hands, Rakesh Gangwal Likely Seller

Read more
Blog Images

Zee Entertainment Shares Surge After Announcing Settlement Agreement with Sony India

Read more
Blog Images

IRFC to replace LIC in the Nifty PSE index but railway PSU sees selling pressure

Read more
Blog Images

AU Small Finance Bank Sees Significant Block Deal: 1.7% Equity Changes Hands Worth ₹804 Crore

Read more
Blog Images

Zomato Sees ₹5,438.50 Crore Block Deal as Antfin Singapore Likely Divests Stake

Read more
Blog Images

Piramal Enterprises Stock Plunges Over 8% as Q1 Net Profit Falls 64% YoY: What Should Investors Do?

Read more
Blog Images

Hindenburg Research Hints at New Target in India: Cryptic Message Sparks Speculation

Read more
Blog Images

RVNL Q1 Results: Profit Falls 34%, Stock Drops 5%

Read more
Blog Images

Bharti Hexacom Q1 Results: Net Profit Soars to ₹511 Crore, Revenue Up 14%

Read more
Blog Images

HAL Shares Extend Losses to 20% from Record High, but Still Trade Above Historical Valuations

Read more
Blog Images

Hindustan Zinc Q1 Results: Net Profit Surges Nearly 20%, Margin Expands 250 Basis Points

Read more
Blog Images

Triveni Engineering Shares Fall Over 5% Following Q1 Net Profit Drop

Read more
Blog Images

Ola Electric IPO: All You Need to Know

Read more
Blog Images

Titagarh Rail Systems Sees 8% Decline in Stock Following Subdued Q1 Earnings

Read more
Blog Images

Ceigall India IPO: Everything You Need to Know

Read more
Blog Images

Bandhan Bank Shares Surge 13%: Analysts See Favourable Risk-Reward Ratio

Read more
Blog Images

Akums Drugs and Pharmaceuticals IPO: A Comprehensive Guide

Read more
Blog Images

SJVN Shares Surge 14% Following ₹14,000 Crore Project Win in Mizoram

Read more
Blog Images

RBL Bank Block Deal: 7.9% Equity Worth ₹1,100 Crore Changes Hands

Read more
Blog Images

Federal Bank Q1 Results: Net Profit Climbs 18% to ₹1,009.5 Crore, NII Jumps 20%

Read more
Blog Images

United Spirits Market Cap Surpasses ₹1 Lakh Crore After Q1 Results

Read more
Blog Images

Bajaj Finance Q1 Results: Net Profit of ₹3,912 Crore Meets Estimates, Asset Quality Stable

Read more
Blog Images

Budget 2024 Updates: Key Highlights and Announcements

Read more
Blog Images

Wipro Shares Plummet After Disappointing Q1 Results, Marking Biggest Drop in 4 Years

Read more
Blog Images

Paytm Q1 Results: Net Loss Widens to ₹840 Crore, Revenue Dips 36%

Read more
Blog Images

Garden Reach Shipbuilders Secures ₹840 Crore Order from National Centre for Polar and Ocean Research

Read more
Blog Images

Suzlon Energy Sees ₹50 Crore Block Deals; Major Announcement Expected on July 22

Read more
Blog Images

DMart Share Price Rises Over 4% After Avenue Supermarts Reports Strong Q1 Results

Read more
Blog Images

IREDA Q1 Results: Net Profit Soars by 30% Amid Strong Asset Quality and Loan Growth

Read more
Blog Images

Zee Entertainment Announces Board Meeting to Consider Fund Raising; Stock Surges 6%

Read more
Blog Images

TCS Q1 Results: Revenue Beats Estimates, Announces ₹10 Interim Dividend

Read more
Blog Images

GM Breweries Q1 Results: Shares Rise After 25% Profit Growth and Margin Expansion

Read more
Blog Images

L&T Wins Significant Order from Hindustan Shipyard for the Indian Navy

Read more
Blog Images

Bajaj Auto to Launch World's First CNG Motorcycle: Freedom 125

Read more
Blog Images

₹900 Crore Fund Infusion Boosts Inox Wind and Inox Wind Energy Stocks by Up to 15%

Read more
Blog Images

Polycab Shares Fall After Block Deals Worth ₹2,716 Crore; Promoters Likely Sellers

Read more
Blog Images

Quant Mutual Fund: The Solo Player in 14 Unique Stocks

Read more
Blog Images

Quant Mutual Fund Faces SEBI Probe for Alleged Front-Running: Should Investors Worry?

Read more
Blog Images

CarTrade Tech Block Deal: 15% Equity Worth ₹588 Crore Changes Hands

Read more
Blog Images

Shivalic Power Control IPO (SME): A Comprehensive Overview

Read more
Blog Images

KEI Industries Stock Jumps Over 3% as Labour Strike Ends; Production Loss Limited to ₹10 Crore

Read more
Blog Images

Stanley Lifestyles IPO: A Comprehensive Overview

Read more
Blog Images

Vedanta Board Approves ₹1,000 Crore Fund Raise via NCDs

Read more
Blog Images

PNB Housing Finance Block Deal: 5.2% Equity Changes Hands in Large Trade

Read more
Blog Images

Aasaan Loans IPO: Comprehensive Guide

Read more
Blog Images

DEE Piping Systems IPO: All You Need to Know

Read more
Blog Images

Hyundai Motor India Files for Historic IPO with SEBI, Plans to Sell 14.2 Crore Shares

Read more
Blog Images

Puravankara to Raise ₹1,000 Crore Through Qualified Institutional Placement (QIP)

Read more
Blog Images

Adani's Ambuja Cements Expands with ₹10,422 Crore Penna Cement Acquisition

Read more
Blog Images

Vodafone Idea to Reduce Debt by Issuing ₹2,458 Crore in Preferential Shares to Nokia and Ericsson

Read more
Blog Images

L&T Finance Rises 4% After 8.82 Crore Shares Change Hands via Block Deal

Read more
Blog Images

Sobha Rights Issue: Real Estate Developer to Raise ₹2,000 Crore

Read more
Blog Images

Union Bank Board Approves ₹10,000 Crore Fundraising via QIPs and Bonds

Read more
Blog Images

Suzlon Energy Wins Major Order; Stock Gains 4%

Read more
Blog Images

IRB Infra Block Deal: 6.8% Equity Worth ₹2,656 Crore Changes Hands in Large Trade

Read more
Blog Images

IndiGo Block Deal: Stock Slips 3% After 83.7 Lakh Shares Change Hands

Read more
Blog Images

Mphasis Block Deal: 15.6% Equity Changes Hands in Large Trade; Blackstone Likely Seller

Read more
Blog Images

RBI Governor Shaktikanta Das announced the MPC Policy

Read more
Blog Images

IXIGO IPO to Hit Streets on June 10

Read more
Blog Images

Sensex, Nifty & Nifty Bank at Record Highs at Opening Bell

Read more
Blog Images

Edelweiss Financial Shares Drops 17% Following RBI Action Against Two Entities

Read more
Blog Images

RBI Penalizes YES Bank and ICICI Bank for Regulatory Breaches

Read more
Blog Images

 KPI Green Energy Soars: Stock Split Announced After Bonus Issue and Record Performance

Read more
Blog Images

Awfis Space Solutions IPO: A Comprehensive Overview

Read more
Blog Images

📢 IREDA Clarifies FPO Rumors: No Decision Yet, Strong Financial Growth Reported Here’s What the Management Said

Read more
Blog Images

Pitch to Profit: Cricket's Risk Management Lessons for Personal Finance Success

Read more

Find Your Perfect Plan

Recommended 🤝
Prime Membership

₹ 999

For 1 Year

  • Digital Partnership
  • Goal Planning
  • Financial Planning
  • Portfolio Management Services
  • Digital Diary
  • Protection From Mis-sale & Fraud
  • Stock Related Tips
  • Free Demat Account  (1 Year AMC Free)
  • Second Source of Income
  • Dedicated RM
Buy Now
Recommended 🤝
Prime Membership Pro

₹ 3999

For 1 Year

  • Digital Partnership
  • Goal Planning
  • Financial Planning
  • Portfolio Management Services
  • Digital Diary
  • Protection From Mis-sale & Fraud
  • Stock Related Tips
  • Free Demat Account (1 Year AMC Free)
  • Second Source of Income
  • Dedicated RM
Buy Pro
Recommended 🤝
Prime Membership Pro +

₹ 4999

For 3 Year

  • Digital Partnership
  • Goal Planning
  • Financial Planning
  • Advance Portfolio Management Services
  • Digital Diary
  • Protection From Mis-sale & Fraud
  • Ai Stock Related Tips
  • Free Demat Account (1 Year AMC Free)
  • Second Source of Income
  • Dedicated RM
Buy Pro +

Enquire Now