Tata Elxsi delivers stellar performance in Q2FY23, Profit rises 39%

On Friday, Tata Elxsi reported its financial results for the quarter ended September 30,2022. The net sales of the company rose 28 per cent to INR 763 crores against INR 595 Crores in June 2021. While net profit rose 39 per cent to INR 174 crore from INR 125 Crores a year ago. Earnings per share (EPS) rose to INR 27.98 in September 2022 quarter from INR 20.12, a year ago in the same quarter.

The company’s growth was primarily volume led, with all three segments of EPD, IDV and SIS showing robust
growth of 3.8%, 13.5% and 26.2% QoQ respectively.

Witnessing such stellar performance, Mr. Manoj Raghavan, MD and CEO said – ”

We won multi-year deals in EV and autonomous driving systems in the automotive space, and a next-gen
platform for connectivity and infotainment with a leading off road equipment maker. We have won strategic
platform-led deals in media and communications, with new SaaS and managed services models.

For us, this has been a quarter of investing strongly in growth for the future. With a net add of 1532, we
have added the highest number of Elxsians in our history in a single quarter, while the attrition rate declined
for the second consecutive quarter. We have also invested in expanding our facilities in existing locations of
Bengaluru, Chennai and Pune, and new talent bases in Kozhikode and Hyderabad.
We are also making significant investments in growing our leadership pipeline for delivery, technology and
sales. This is essential for us to establish the next base of talent to win, manage and grow the increasing
number of strategic accounts and new offerings we are bringing to market.”

Tata Elxsi is among the leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare and transportation. It is a subsidiary of Tata Sons.