On Thursday, the leading design and technology service company, Tata Elxsi, announced the quarterly profits for the previous quarter.
The company’s net profit for the fourth quarter of the fiscal year 2023 (Q4FY23) was reported to have increased by 26% from the previous year, coming in at 201.5 crores. In the same time period last year, the Tata Group firm posted a profit of 160.01 crores or Indian rupees. On the BSE, the price of a share of Tata Elxsi was last seen at Rs 7,001.85, representing a loss of about 1.35%.
The revenue generated from operations during the fourth quarter of fiscal year 23 was up 23% year over year to a total of 838 crores, up from 681.7 crores. From the previous value of 817.7 crores, it increased by 2.5%. The information technology company’s quarterly revenue was up 23.4% year over year to 863.6 crores in Q4Fy23, up from 699.8 crores in Q4FY22.
On a year-on-year (YoY) basis, the company’s EBITDA margin for Q4FY23 came in at 29.8%, down from 32.5% the previous year. EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation.
The board of directors has suggested a final dividend for the fiscal year 2022-23 that is equal to 606% or 60.60 per share.
According to the company’s CEO and managing director, Manoj Raghavan, the transportation industry, which accounts for more than 43 percent of the company’s Embedded Product Design (EPD) sector, had exceptional growth in the amount of 32.8% in terms of constant currency during the reporting period. The Healthcare and Medical Devices sector had a strong gain of 28.4% when measured in terms of constant currency.