Tata Elxsi stock climbs 5 per cent post Q4 earnings

Shares of design and technology services provider Tata Elxsi climbed 5 per cent today after the firm reported a 39 per cent rise in Q4 net profit. The large cap stock opened with a gain of 2.33 per cent at Rs 7,990 today. Later, it touched an intraday high of Rs 8,190.95, rising 4.9 per cent on BSE.

Tata Elxsi stock is trading higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

The stock has gained 164.34 per cent in one year and risen 35 per cent in 2022.

Total 0.65 lakh shares of the firm changed hands amounting to a turnover of Rs 52.05 crore on BSE.

Market cap of the firm rose to Rs 49,284 crore on BSE.

The stock hit a 52-week high of Rs 9420 on March 31, 2022 and a 52-week low of Rs 2998 on April 22, 2021.    

Tata Elxsi reported a 39 per cent rise in net profit at Rs 160.01 crore for the fourth quarter against Rs 115.17 crore in the corresponding quarter a year ago.

Share Market LIVE: Sensex jumps over 700 pts, Nifty tops 17,300; Ajanta Soya zooms 5%

Sales climbed 31.51 per cent to Rs 681.74 crore in Q4 of last fiscal against Rs 518.40 crore in the corresponding quarter of the previous fiscal.

Operating profit excluding other income climbed 31.51 per cent to Rs 221.24 crore in the March quarter against Rs 168.04 crore in Q4 of FY20.

Tata Elxsi CEO and Managing Director Manoj Raghavan said, "We are pleased to report a strong start to the new fiscal with all-round growth across industries and key geographies. We continue to execute strongly on both top line and bottom line...We are entering the second quarter with a strong order book and a healthy deal pipeline across key markets and industries."

He added that the company is seeing sustained recovery in the automotive market for the third consecutive quarter, and has also won large and strategic deals with both OEMs and suppliers in EV and autonomous technologies.