Tata Elxsi logs 13 pc revenue growth, announces 700 pc dividend for FY24
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IT major Tata Elxsi on Tuesday declared its fourth quarter results, with 13 per cent revenue growth at Rs 3,552.1 crore and profit before tax (PBT) at Rs 1,048.7 crore for the first time, an 11.9 per cent growth (year-on-year).
Software development and services (SDS) grew by 9.3 per cent YoY while system integration and support (SIS) went up by 18.6 per cent.
The board has recommended a final dividend of 700 per cent (Rs 70 per equity share of par value of Rs 10 each) for the financial year ending March 31, the Tata Group company said in a statement.
“We have done well to maintain industry leading EBITDA margin at 29.5 per cent for the year, even while we continued to invest in expanding our talent base through all four quarters, with a net addition of 1,535 ‘Elxsians’ through the year,” said Manoj Raghavan, CEO and Managing Director, Tata Elxsi.
Transportation continued to grow strongly for the company, registering a revenue growth of 24.6 per cent YoY, supported by deal wins in electric, software-defined vehicles and OEMs.
“We are continuing to invest ahead in building our talent pipeline, and are expanding our presence across locations in India and overseas,” Raghavan said.
The company also appointed two new members to the board -- Soumitra Bhattacharya who serves as Chairman of Bosch Limited and Ashu Suyash who served as MD and CEO of CRISIL.
