Tata Elxsi logs 3.6% dip in net profit to Rs 199 crore

Small-tier IT services company Tata Elxsi on Thursday reported a 3.6% decline in net profit to ₹199 crore for the third quarter ending December 2024. Its net profit stood at ₹206.43 crore in the same quarter a year ago. Sequentially, the profit dropped by 13.3% from ₹229.43 crore in the preceding quarter - July to September period.

Revenue for the quarter grew 2.7% year-on-year (YoY) at ₹939.2 crore while declined 1.7% from the previous quarter. The company attributed decline to geopolitical uncertainty, currency volatility and industry specific challenges in Europe and US. "We continue to see positive outcomes of our strategic business focus on Japan, emerging markets and capitalizing on the India opportunity," said Manoj Raghavan, CEO and MD of Tata Elxsi.