Bangalore: Tata Elxsi (BSE: 500408) (NSE: TATAELXSI), amongst the world’s leading providers of design-led technology services, announced its results for first quarter of FY 2021-22 ended June 30, 2021.
The Company reported ₨ 558.3 Cr of revenue from operations for Q1 FY22, registering a growth of 39.4% YoY. During the period reported, company generated PBT of Rs 153.9 Cr, registering a growth of 63.9% YoY. Company’s net profit for the quarter stood at Rs 113.4 Cr, reporting a growth of 64.6% YoY.
Highlights of the Quarter Ended June 30, 2021
- Revenues from operations at Rs. 558.3 Cr, +7.7% QoQ, +39.4% YoY
- Total income at Rs. 575.8 Cr, +9.6% QoQ, +39.1% YoY
Tata Elxsi won all three Product Award Categories for Engineering Service Providers at the NASSCOM Engineering & Innovation Excellence Awards 2021
- Next-gen Product of the Year: Connected Vehicle IoT platform, Tether
- Engineered in India Product of the Year: OTT and Video Test Automation & proactive QoE monitoring platform, FalconEye QoEtient
- Social Impact solution of the Year: Gazelle, a breakthrough point-of-care diagnostic device for malaria and sickle-cell disease screening developed for our customer Hemex Health
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% QoQ and 31.4% YoY and Industrial Design & Visualization (IDV) posting a smart 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.
Commenting on the performance, Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi said:
“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.
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.
We have also won strategic deals in digital health, OTT and video platform development, which reflect on our ability to support the product and technology transformation agendas of customers in our key verticals.
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.”
About Tata Elxsi
Tata Elxsi is amongst the world’s leading providers of design and technology services across industries including Automotive, Broadcast, Communications, Healthcare and Transportation. Tata Elxsi is helping customers reimagine their products and services through design thinking and application of digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality and Artificial Intelligence. For more information, please visit www.tataelxsi.com