Tata Elxsi records 6.7% increase in Q3 revenues

Tata Elxsi, a leading supplier of design-led technologies to various sectors including automobiles reported ₨ 635.4 crore of revenues from operations for Q3 FY2022, registering a growth of 6.7 percent quarter-on- quarter and 33.2% YoY. The company's net profits for the quarter stood at Rs 151 crore, up 20.4% quarter on quarter and a 43.5% YoY, it said in a regulatory filing. 

The Bengaluru-based company attributed the growth to its Embedded Product Design (EPD) division, its largest which grew at 9.9% quarter on quarter and 36% YoY. Within EPD, the transportation business posted a third quarter of strong growth of 9.7% quarter on quarter and 30.9% YoY, with secular growth across Electric, Autonomous and Connected technologies, and continued momentum with both OEMs and suppliers for design, technology and digital services across geographies, the company added.

Manoj Raghavan, CEO and Managing Director, said, "We are seeing significant growth in the automotive market, with large and strategic deals with both OEMs and suppliers across electric, autonomous, connected and digital, underscoring our technology and engineering leadership. We have won strategic multi-year large deals this quarter against the best global competitors in all three industries and are investing in our talent pipeline to support continued growth," he added.