IANS | 23 Apr, 2024
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.