BANGALORE, India, July 21, 2020 /PRNewswire/ — Tata Elxsi (BSE: 500408) (NSE: TATAELXSI), among the world’s leading providers of design-led technology services, announced its results for the first quarter of FY20-21 ended June 30, 2020.
Highlights for Q1 FY21:
- Revenue from operations at ₨ 4004.9 million; growth of 10.7% YoY
- Profit Before Tax (PBT) at ₨ 939.5 million; growth of 33.9% YoY
- EPD, the company’s largest division, grew by 13.2% YoY
- Media & Communication vertical grew by 23.3% YoY and 3.3% QoQ
- Healthcare vertical grew by 26.5% YoY and 5.3% QoQ
The company’s growth was driven by its largest division – Embedded Product Design (EPD).
Within EPD, Media & Communications vertical grew by 23.3% YoY and 3.3% QoQ and healthcare vertical grew by 26.5% YoY and 5.3% QoQ. Transportation vertical continues to be impacted owing to muted sales and sales forecasts from OEMs leading to reduction in spends and deal deferrals across the transportation value chain.
“It was a pretty satisfying quarter – Although we did see general sluggishness across all verticals at the end of last quarter and beginning of this quarter, the Media & Communications and Healthcare verticals recovered strongly to post sequential growth. Auto continues to be muted though.“
“But I am really pleased with how we have successfully managed to institutionalize remote working and continue to serve our customers across the world seamlessly. I would like to thank all employees for embracing this change so quickly and continuing to deliver and contribute to our success. And of course, to all our customers who have stood with us, in these very challenging times,” said Manoj Raghavan, CEO and Managing Director, Tata Elxsi.
About Tata Elxsi
Tata Elxsi is amongst the world’s leading providers of design and technology services across industries including Automotive, Broadcast, Communications, Healthcare and Transportation.
Tata Elxsi is helping customers reimagine their products and services through design thinking and application of digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality and Artificial Intelligence.
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SOURCE Tata Elxsi