Tata Elxsi Q2 net zooms 10-fold

Bangalore, Oct 29 (IANS) Leading IT product design firm Tata Elxsi posted a Rs.20 crore net profit for the second quarter (July-Sept) of this fiscal (2013-14), registering a 10-fold growth year-on-year (YoY) from Rs.1.8 crore in the like period a year ago.

"Sequential growth, however, is 22 percent from first quarter (April-June) of this fiscal (FY 2014)," the $100-billion Tata group company said here in a statement Tuesday.

Consolidated revenue grew 22 percent year-on-year (YoY) to Rs.190 crore for during the quarter under review (Q2) from Rs.155 crore in same period year ago, while income from software development and services rose 27 percent YoY to Rs.172 crore.

"Even in a testing economic environment, customers are investing in growth strategies, driving demand for our design expertise," chief executive Madhukar Dev said in the statement.

The city-based company has also noticed demand for its services from emerging markets.

As a design firm, Tata Elxsi helps customers transform ideas into products and solutions in diverse sectors such as automotive, broadcast, consumer electronics, healthcare, semi-conductor and telecom sectors.

With a network of design studios and development centres worldwide, the company's services include embedded product design, industrial design, animation & visual effects and systems integration.

This is supported by a talent pool of over 4,000 plus employees and a network of design studios, development centres and offices worldwide. Key services include embedded product design, industrial design, animation & visual effects and systems integration.

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