Tata Technologies Q3 Results: Profit Rises Over 6% In First Earnings Since Listing

Tata Technologies Ltd. has delivered the goods in its maiden quarterly results.

The pureplay ER&D firm also managed to maintain the deal momentum in the October to December quarter. Five large deals were signed during the three-month period, including one worth more than $50 million and another in excess of $25 million.

“We remain positive on customer spending in the automotive vertical as OEMs (original equipment manufacturers) continue to pivot towards electrification and other alternate propulsion systems,” Warren Harris, chief executive officer at Tata Technologies, said in the statement. “We are investing in building capabilities at scale and remain confident about the long-term fundamentals of our business.”

Separately, Tata Technologies announced it has collaborated with Agratas to fast-track the development and industrialisation of battery solutions.

As part of the tie-up, the Tata Group firm will develop digital infrastructure to support production of battery solutions at Agratas’ gigafactories in India and the U.K. The tie-up will allow Agratas to accelerate product development, including the design and integration of battery cells.

On Thursday, Tata Technologies’ shares rose 0.11% to Rs 1,144.20 apiece on the BSE, even as the benchmark Sensex ended the day 0.51% lower at 70,700.67 points. The quarterly results were declared after market hours.