Bengaluru-headquartered design-led digital engineering and technology company Tata Elxsi has reported its financial results for FY2023.
The company says it continues to strong operational performance driven by healthy revenue growth and strong margins despite the macroeconomic uncertainties and challenges. For the year the company reported revenue of Rs 3,144 crore, up 27 percent YoY, EBITDA of Rs 961 crore, up 25 percent YoY, EBITDA Margin at 36 percent and net profit of Rs 755 crore, compared to Rs 549 crore a year ago.
“In a matter of just two financial years, our top line has grown by 72 percent to Rs 3144.7 crore and our net profit has almost doubled to Rs 755 crore. During the financial year, our transportation business, which accounts for more than 43% of our Embedded Product Design (EPD) division, grew strongly by 32.8 percent in constant currency terms,” said Manoj Raghavan, MD & CEO, Tata Elxsi.
Tata Elxsi further benefited from the key strategies deployed over the last two years, which Raghavan says has played out well with strong synergies between the design, product engineering and deployment support services. This is enhancing deal sizes, durations and value delivered to customers.