Tata Elxsi on Thursday reported a 3.6 percent decline in net profit to Rs 199 crore for the December 2024 quarter. It had posted a net profit of Rs 206.43 crore in the October-December period of the preceding 2023-24 fiscal, the company said in an exchange filing. Sequentially, the company reported a decline of 13.3 percent, reported Rs 229.43 crore in September 2024 quarter.
The company attributed decline to geopolitical uncertainty, currency volatility and industry specific challenges in Europe and US.
The company's revenue from operations, however, increased to Rs 939.17 crore during the fiscal third quarter against Rs 914.23 crore in the same period a year ago. This is a 1.7 percent decline compared to Rs 955.1 crore in the September quarter.
The company reported Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) at Rs 220.07 crore, a decline of 7.7 percent from Rs 239.2 crore in the September quarter. EBITDA margin for the third quarter also fell to 24.2% from 25.7% last quarter
Manoj Raghavan, CEO and MD, said "We continue to win new marquee healthcare customers, and our Gen AI powered regulatory, digital engineering and sustainability offerings are seeing significant traction in the market."
"We continue to see positive outcomes of our strategic business focus on Japan, emerging markets and capitalizing on the India opportunity," he added.
The company also highlighted key deals, including a multi-million long-term deal from a leading US headquartered MSO to manage a portfolio of applications, that will ramp up over the next two quarters.
The company has also been selected as a 'design digital’ partner by a US headquartered global technology leader for a major data and insights program for next generation AI and product-feature development
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