Tata Technologies Ltd. on Thursday reported a 3.2% rise in its net profit on a sequential basis for the first quarter of financial year ending March 2025.
The engineering firm reported a bottom line of Rs 162 crore in the quarter-ended June as compared with Rs 157 crore during the previous quarter, according to its stock exchange notification. That compares with the Rs 183.9-crore analysts' estimate tracked by Bloomberg.
Revenue of the company fell 2.5% quarter-on-quarter to Rs 1,269 crore. Analysts tracked by Bloomberg had pegged the top line at Rs 1,337.1 crore.
Operating income or earnings before interest and tax fell 4.5% on a quarterly basis to Rs 201 crore, while the EBIT margin contracted to 15.9% from 16.2% during the previous quarter. The analyst consensus estimates for EBIT and EBIT margin tracked by Bloomberg stood at Rs 217.1 crore and 16.2%, respectively.
"Confidence in our full-year prospects is fuelled by our order book, continued positive momentum within our Anchor accounts, and tailwinds that we expect to continue to intersect with across automotive, aerospace, and industrial heavy machinery," said Warren Harris, Chief Executive Officer and Managing Director Tata Technologies.
Harris further added that he expects the sequential revenue growth of its services business to accelerate from the current quarter.
The scrip closed 0.54% lower at Rs 1,009.75 apiece, as compared to a 0.76% advance in the NSE Nifty 50. It has fallen 23.14% in the last 12 months and it is down 14.51% on year-to-date basis.
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