Shares of Tata Elxsi Ltd. turned volatile, swinging between gains and losses after the announcement of its fourth-quarter results. The stock swung between an intraday low of Rs 6,870 and a high of Rs 7,075 so far on Friday.
The company's net profit rose 26% year-on-year to Rs 201.51 crore, according to an exchange filing. Revenue rose 22% to Rs 837.91 crore.
Revenue up 22.9% at 837.91 crore.
Ebitda up 12.87% at Rs 249.72 crore.
Ebitda Margin of 29.8%
Net profit is up 26% at Rs 201.51 crore.
“The key strategies deployed over the last two years have played out well with strong synergies between the design, product engineering, and deployment support services of Tata Elxsi, allowing us to address upstream and downstream product lifecycle requirements," said Manoj Raghavan, chief executive officer and managing director at Tata Elxsi.
"This is enhancing deal sizes, durations, and the value delivered to customers. It is reflected in the strong Q4FY23 growth from IDV (52.8% YoY in constant currency terms) and SIS (77.6% YoY in constant currency terms)," he said.
Shares of Tata Elxsi rose 0.35% to Rs 7,019.90 apiece, compared to a flat NSE Nifty 50.
Out of the eight analysts tracking the company, two maintain a 'buy' rating and six suggest a 'sell' on the stock, according to Bloomberg data. The average 12-month consensus price target implies a downside of 13.10%.
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