Tata Elxsi has reported a 39.4% year-on-year growth for the first quarter of FY 2021-22 ended June 30, 2021.
Tata Elxsi has reported ₨ 558.3 Cr of revenue from operations for the first quarter of FY 2021-22 ended June 30, 2021, registering a growth of 39.4% year-on-year (YoY). During the period reported, the company generated PBT of Rs 153.9 Cr, registering a growth of 63.9% YoY. Net profit for the quarter stood at Rs 113.4 Cr, up by 64.6% YoY.
The company’s growth was driven by both its key businesses, with Embedded Product Design (EPD), the company’s largest division growing by 7.5% quarter-on-quarter (QoQ) and 31.4% YoY, and Industrial Design & Visualization (IDV) posting a growth of 13.9% QoQ and 132.1% YoY.
The growth was led by Americas with 17.5% QoQ and 69.3% YoY growth. Europe grew by 5.4% QoQ and 30.1% YoY. India grew by 2.8% QoQ and 47.6% YoY.
Within EPD, growth was broad-based across industry verticals. Healthcare continues to grow faster than the other industry verticals with growth of 19.3% QoQ and 80.2% YoY. Media & Communications delivered another steady quarter with 8% QoQ and 31.6% YoY growth. Transportation continues to show revival with 3.4% QoQ and 20.1% YoY growth.
“We are pleased to report a strong start to the new fiscal with all-round growth across industries and key geographies. We continue to execute strongly on both top line and bottom line. Our Healthcare business continues to grow strongly, while both Transportation and Media and Communications reported another quarter of sustained growth,” said Manoj Raghavan, CEO and Managing Director, Tata Elxsi. “We are seeing sustained recovery in the automotive market for the third consecutive quarter. We have also won large and strategic deals with both OEMs and suppliers in EV and autonomous technologies, underscoring our technology and engineering leadership. This is reflected in both the industry and geography growth we have reported in the quarter.”
He said the company also won strategic deals in digital health, OTT and video platform development.
“I am especially delighted with our company having won the NASSCOM Engineering & Innovation Excellence Awards 2021 for Engineering Service Providers in all product categories. This recognition is a testimony to Tata Elxsi’s DNA of bringing design and technology together, leadership in each vertical we operate in, and our differentiated solution and value driven approach to the market. We are entering the second quarter with a strong order book and a healthy deal pipeline across key markets and industries,” Raghavan concluded.