Earnings Update: Tata Elxsi reports Q3 results with a significant rise in net profit

Tata Elxsi(NSE: TATAELXSI) reported its third-quarter results for 2022 after the market hours today.

Tata Elxsi had a consolidated revenue of ₹641 crores with a growth of 30% on a yearly basis.

The company had a net profit of ₹151 crores or ₹24.24 per share compared to ₹105.2 crores or ₹16.9 per share in the same quarter of the previous year.

Mr Manoj Raghavan, CEO and Managing Director, Tata Elxsi said “We are pleased to report another quarter of consistent and strong growth, supported by differentiated offerings and industry-leading operational excellence.

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.”