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Revenue for the quarter stood at ₹939.2 crore, which was 1.7% down as compared to ₹955.1 crore in the September quarter.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA), fell compared to the September quarter, declining 7.7% to ₹220.7 crore from ₹239.2 crore.
EBITDA margin for the third quarter also fell to 24.2% from 25.7% last quarter
Tata Elxsi has won a large multi-year deal with a US headquartered MSO to develop and manage their portfolio of applications and expect to ramp this up over the next few quarters.
“We continue to see positive outcomes of our strategic business focus on Japan, emerging markets and capitalising on the India opportunity. During the quarter, our revenue from India has grown by 21.9% YoY, while Japan and emerging markets grew at 66.8% YoY. This will serve us well over the next few quarters even as we navigate geopolitical uncertainty, currency volatility and industry specific challenges in Europe and US,” said Manoj Raghavan, CEO and Managing Director at Tata Elxsi.
Amidst this business environment, Tata Elxsi continues to do well to win and execute on the large deals won over this year, Raghavan said.
“We are positioned well in some very large deals across the world, with decisions and outcomes expected in the coming quarter and beyond,” he added.
Out of the 14 analysts that have coverage on Tata Elxsi, only three have a ‘Buy’ recommendation on the stock, while 11 others have a ‘Sell’ rating.
Shares of Tata Elxsi Ltd. settled 0.33% lower on Thursday at ₹6,451.95. The stock has tumbled over 25% in the last one year.
First Published: Jan 9, 2025 4:52 PM IST
