Tata Elxsi profit doubles

Bangalore, June 6: TATA Elxsi Ltd, the technical computing arm of Tata Group based here, has reported that its profit after tax for the year ended March last increased substantially to Rs 13.86 crore as against Rs 6.70 crore for the previous year.

For the 12-month period (2000-01), the revenue stood at Rs 137.90 crore as against Rs 124.22 crore in the previous year, a company release said.

The board of directors approved its audited results at their meeting.

Tata Elxsi has eight representative offices world-wide and 12 field offices spread across the country. The company’s business domains include software design and development services in the high technology areas offered to the global market with systems integration services to the domestic market, it was noted.

The increased total revenues for the fiscal was largely attributed to the growing proportion of export revenues from the design and development operations in its total revenues which is currently 40 per cent as against 25 per cent for the previous year.

Mr Madhukar Dev, vice-president of Tata Elxsi said, “We are confident to carry forward this trend and our entire thrust for the coming periods is to take the increasing software business of Tata Elxsi more aggressively to the global markets”.

The board has declared a dividend of 25 per cent for the year 2000-01 as against 15 per cent maiden dividend paid for the previous year. The release said software business currently accounts for per cent of the total turnover of the company and had been showing more than 100 per cent growth rate.

DS Pendse quits
Tata Elxsi has informed the BSE that Mr DS Pendse has resigned from the board of directors of the company with effect from June 1.

-- PTI