Tata Elxsi share price hits new 52-week high after Q4 profit jumps 40%
The company said its net profit has increased 40.3 percent to Rs 115.16 crore in the March 2021 quarter. The company had registered a net profit of Rs 82.08 crore in the year-ago period, Tata Elxsi said in a regulatory filing.
April 23, 2021 / 10:58 AM IST
Tata Elxsi share price jumped 8 percent intraday on April 23 after the company's net profit surged 40 percent in the fourth quarter of fiscal 2021.
The company said its net profit has increased 40.3 percent to Rs 115.16 crore in Q4 FY21 compared to Rs 82.08 crore in the year-ago period. Its revenue from operations rose 18.1 percent to Rs 518.39 crore from Rs 438.88 crore in Q4 FY20.
In FY21, the company's net profit increased 43.7 percent to Rs 368.1 crore, while revenue grew 13.4 percent to Rs 1,826.2 crore over the previous fiscal.
"It was a satisfying quarter with continued growth across offerings, industries and geographies," Tata Elxsi CEO and MD Manoj Raghavan said in a statement. The company continued to execute strongly on its growth aspirations with over 9 per cent quarter-on-quarter revenue growth in constant currency, he added.
The stock was trading at Rs 3,285.55, up Rs 239.30, or 7.86 percent. It has touched a 52-week high of Rs 3,340. It has touched an intraday high of Rs 3,340.00 and an intraday low of Rs 3,139. The scrip also witnessed spurt in volume by more than 1.26 times and was trading with volumes of 40,223 shares, compared to its five day average of 24,814 shares, an increase of 62.10 percent.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. It has zero promoter pledge with increasing profits every quarter for the past 3 quarters.
Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.