Tata Elxsi reported 3.2 percent on-quarter growth in net profit and 6 percent on-year rise to Rs 206.4 crore for the quarter ended December. Revenue grew 3.7 percent on-quarter and 11.8 percent on-year to Rs 914.2 crore.
For Q3FY24, the transportation segment grew by 2.7 percent quarter-on-quarter (QoQ), aided by deal wins and ramp-up of Software Defined Vehicle engagements, Tata Elxsi said in an exchange filing.
For the same period, the healthcare division grew by 4.6 percent QoQ, driven by new product engineering and regulatory services. Media and communications segment grew marginally by 0.6 percent QoQ.
Tata Elxsi is a provider of design and technology services across industries including Automotive, Broadcast, Communications, Healthcare and Transportation.
The Bengaluru-based company's operating margin decreased by 40 basis points (bps) to 29.5 percent.
"As we step into the last quarter of this financial year, the confidence of our customers in our differentiated Design Digital proposition and delivery excellence, and a strong deal pipeline provides us the foundation for sustained growth," said Manoj Raghavan, chief executive officer and managing director, Tata Elxsi.
The company net added 350 employees in the quarter, taking the total to 13,221. Attrition fell by 80 bps to 12.9 percent in the quarter ended December.
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