Tata Elxsi has reported revenue of ₨635.4 crore for the third quarter ended December 31, 2021, up by 6.7% QoQ and 33.2% YoY.
Tata Elxsi has reported revenue of ₨635.4 crore for the third quarter ended December 31, 2021 (Q3 FY2022), registering a growth of 6.7% quarter-on-quarter (QoQ) and 33.2% year-on-year (YoY).
EBITDA for the quarter grew by 14.8% QoQ and by 46.8% YoY to Rs210.8 crore, while PBT grew by 17.1% QoQ and 36.9% YoY to Rs200.3 crore. The company’s net profit for the quarter reached Rs151 crore, an increase of 20.4% QoQ and 43.5% YoY.
Tata Elxsi delivered industry-leading bottom-line performance and crossed the Rs200 crore PBT and Rs150 crore PAT milestones for the first time in its history, mainly driven by Embedded Product Design (EPD), its largest division, which grew by 9.9% QoQ and 36% YoY.
Within EPD, the Transportation business posted a third quarter growth of 9.7% QoQ and 30.9% YoY, with secular growth across Electric, Autonomous, and Connected technologies, and continued momentum with both OEMs and suppliers for design, technology, and digital services across geographies.
Media & Communications delivered another quarter of consistent growth with 6.5% QoQ and 31.1% YoY growth, respectively, supported by the addition of marquee global customers, and strategic platform and solution-led multi-year deal wins.
Healthcare continued its accelerated growth at 22% QoQ and 73.4% YoY, supported by large deals and continued growth in digital health, digital engineering and regulatory services.
The Design business (IDV) continues to fuel strategic design-led digital deal wins for the company with a growth of 61.7% on a YTD basis.
“We are pleased to report another quarter of consistent and strong growth, supported by differentiated offerings and industry leading operational excellence,” said Manoj Raghavan, CEO and Managing Director, Tata Elxsi. “We continue to execute strongly on all our key strategies, driving growth across our three primary industry verticals and regions, building on our software and digital product engineering capabilities. We are seeing significant growth in the automotive market, with large and strategic deals with both OEMs and suppliers across Electric, Autonomous, Connected and Digital, underscoring our technology and engineering leadership.
“We have won strategic multi-year large deals this quarter against the best global competitors in all three industries, which clearly underscores the differentiation we bring to our customers, and the relevance of our design-led technology capabilities. The superior topline and bottom-line performance was supported by industry-leading operational excellence and talent retention. We are continuing to invest in our talent pipeline to support continued growth. We are entering the fourth quarter with the confidence of a strong order book and a healthy deal pipeline across key markets and industries.”