10/7/2024, 7:06:02 pm

Tata Elxsi's Net Profit Dips 2.5%, Revenue Jumps 9%

Tata Elxsi reported a 2.5% Y/Y drop in net profit to ₹184.07 crore and 6.5% sequential decline. Revenue from operations rose 9% Y/Y to ₹926.45 crore and 2% Q/Q. The software development segment contributed ₹899.99 crore, while system integration revenue was ₹26.46 crore. Despite Bernstein assigning an "underperform" rating with a target of ₹6,030, Tata Elxsi's share price rose 1.46% to ₹7,119.45.