Tata Elxsi's net profit for the quarter ended March 31 declined to Rs 196.93 crore, down 4.6% quarter-on-quarter and 2.32% year-on-year, as per the company's exchange filing.
Tata Elxsi's Q4 Financial Performance
The company's total revenue from operations stood at Rs 905.9 crore in Q4FY24, lower than Rs 914.23 crore in Q3FY24 but higher than Rs 837.91 crore in Q4FY23. For the full year, Tata Elxsi reported a profit after tax of Rs 792.2 crore in FY24, a 4.9% YoY increase, and revenue of Rs 3,552.1 crore, a 13% YoY gain.
- Transportation segment grew 20.4% YoY in CC terms, driven by large deals and software defined vehicles traction.
- Healthcare segment posted 7.6% YoY growth.
- Media & communications segment recorded 2.6% YoY growth.
Operational Highlights and Outlook
Tata Elxsi's CEO and MD Manoj Raghavan expressed satisfaction with the company's performance, citing resilience in revenues, margins, and customer additions despite a volatile macroeconomic environment. The company added 178 employees, taking the total headcount to 13,399, and reported an attrition rate of 12.4%, down from 12.9% in the previous quarter.
Raghavan highlighted the company's commitment to growth, backed by strong customer relationships, investments in AI and GenAI, and a robust deal pipeline. The transportation segment's growth, driven by software defined vehicles, is expected to continue, given the industry's increasing focus on SDV technology.
Market Implication and Investor Outlook
Tata Elxsi's dividend declaration of Rs 70 per share for FY24 demonstrates the company's commitment to shareholder returns. The stock price ended 0.57% lower at Rs 7,393.85 on BSE on April 23. Investors will be watching the company's ability to sustain growth momentum and expand its presence in key segments, particularly transportation and healthcare.
