Tata Elxsi Q1 Results FY2023, PAT at Rs.184.7 Crore

On 14th July  2022, Tata Elxsi,  amongst the world’s leading providers of design-led technology services, announced its quarterly results for the first quarter of FY2023. 

Q1FY23 Key Highlights:

- The company reported revenues from operations at Rs. 725.9 Cr, with a growth of 6.5% QoQ, and 30.0% YoY 

- The EBITDA  was reported at Rs. 238.2 Crore with a growth of 7.6% QoQ and 58.8% YoY 

Industry-leading EBITDA Margin at 32.8% 

- Profit after tax was reported at Rs. 184.7 Crore, with a growth of 15.4% QoQ and 62.9% YoY 

- EPS grew by 15.5% QoQ and 62.9% YoY to Rs. 29.66 

- Employee mark crossed 10,000 employee mark with 771 net additions in the quarter

- The company’s growth was primarily volume-led, with all three segments of EPD, IDV, and SIS showing robust growth of 6.2%, 6.6%, and 19.8% QoQ respectively.

Business Highlights:

- Transportation grows 6.3% QoQ and 41.8% YoY, aided by large deals and engagements in EV and Software Defined Vehicles. 

- Healthcare continues to witness strong growth of 10% QoQ and 53.6% YoY, driven by digital health and global regulatory services. 

- Media and Communications reports a quarter of steady and consistent growth at 4.7% QoQ and 29% YoY, aided by continued growth in key accounts and large deals in network transformation and AdTech. 

Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance, said: “We are starting FY23 on a strong note with 6.5% QoQ revenue growth in constant currency. This was all volume-led and supported by robust growth across divisions, verticals and key markets. We continue to maintain and expand our margins with our EBITDA growing at 58.8% YoY and PAT growing at 62.9% YoY. Our differentiated delivery capability powered by Domain, Design, and Digital, is helping us continue to win deals which are of strategic importance to our customers.”