Tata Elxsi Q4FY23 Results: Net profit up nearly 26% to ₹201.5 crore, declares dividend

Tata Elxsi Ltd on Thursday reported an 26% year-on-year rise in its net profit for the fiscal's fourth quarter ended March (Q4FY23) to ₹201.5 crore. The Tata group company had reported a profit of ₹160.01 crore in the year-ago period. Tata Elxsi Ltd share price closed at ₹7,001.85 apiece, down nearly 1.35% on BSE.

The company's revenue from operations for Q4FY23 rose 23% on year to ₹838 crore from ₹681.7 crore. Sequentially, it rose 2.5% from ₹817.7 crore. The IT company's total income for Q4FY23 rose 23.4% on year to ₹863.6 crore from ₹699.8 crore in Q4FY22.

The company's Q4FY23 EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) margin stood at 29.8% versus 32.5% on a year-on-year (YoY) basis.

The company's EBITDA stood at ₹249.5 crore during Q4FY23 up by 12.8% YoY from ₹221.2 crore recorded during the year-ago quarter.

The board of directors has recommended a final dividend of 606% at ₹60.60 per share for the financial year 2022-23.

Manoj Raghavan, the company's CEO and managing director, stated that the transportation business, which makes up more than 43% of its Embedded Product Design (EPD) segment, experienced excellent growth of 32.8% in constant currency terms. The Healthcare & Medical Devices segment saw a significant increase of 28.4% in constant currency terms. Over the course of the financial year, our Media & Communications business had constant currency growth of 14.6%.

“Financial year 2023 has been another year of strong operational performance, driving healthy revenue growth and strong margins despite the macroeconomic uncertainties and challenges that the industry has been facing since last few quarters.

We are entering the new financial year with a strong commitment to keep our growth momentum going, and the continued confidence of our customers in our differentiated design-led engineering capabilities,” said Raghavan in an exchange filing.

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