Tata Elxsi shares increase by almost 11% post Q3 net profit

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After Tata Elxsi’s reported net profit increment by 39.5% for the December 2020 quarter, the shares rose by almost 11%.

The stock has risen sharply by 10.72% to its one-year high of Rs 2,299.90 on BSE.

On NSE, it climbed 10.17% to Rs 2,300. Tata Elxsi recorded the previous closing at Rs 2,087.60 and today it opened at Rs 2,150.25. Also, shares have posted a 52-week range of Rs 499.95 – Rs 2,300.00.

On 12th January 2021, the company said that its net profit increased by 39.5% to Rs 105.2 crore for the December 2020 quarter.

Tata Elxsi had registered a net profit of Rs 75.4 crore in the year-ago period, they said in a regulatory filing.

Its revenue from operations increased by 12.7% to Rs 477.1 crore for the mentioned quarter from Rs 423.4 crore in the corresponding period last fiscal, they added.

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