Tata Elxsi hits new high, rallies 36%
Shares of Tata Elxsi increased 16 per cent to Rs 4,089.70 on the Bombay Stock Exchange in intra-day trade today, extending its previous week’s rally after the Tata Group IT company reported a stellar set of March quarter (Q4FY21) numbers. Since April 22, the stock has increased 36 per cent, which was against a 2.4 per cent rise in the S&P BSE Sensex. In the last year, it has increased 432 per cent, from a 54 per cent jump in the benchmark index.
In Q4FY21, revenues of Tata Elxsi’s rose 8.7 per cent quarter-on-quarter (QoQ) to Rs 518 crore, which was mainly led by 3.9 per cent QoQ growth in transportation, 5.8 per cent QoQ growth in broadcast & communication and 13.3 per cent QoQ growth in healthcare. Earnings before interest, taxes, depreciation, and amortization (Ebitda) margin grew from 30.1 per cent to 32.4 per cent on account of higher offshoring and fixed price projects. The profit after tax, meanwhile, rose 9.5 per cent QoQ to Rs 115.20 crore.
Tata Elxsi is the world’s leading design and technology services providers. It delivers its service across industries which include Automotive, Broadcast, Communications, Healthcare, and Transportation. it was founded in 1989 with its headquarters in Banglore by its parent organisation is Tata Group.