Design services provider Tata Elxsi today reported a 8.2 per cent increase in net profit to Rs 44.49 crore for the fourth quarter ended March 31. The net profit stood at Rs 41.08 crore in the same period previous fiscal, the Tata Group company said in a BSE filing. The total income from operations rose nearly 10 per cent to Rs 323.96 crore for the fourth quarter of 2016-17. For the fiscal 2016-17, the net profit rose 11.9 per cent to Rs 173.29 crore as against Rs 154.81 crore in the previous financial year.
The company’s total income from operations increased almost 13 per cent to Rs 1228.22 crore. The shares of the company ended 2.39 per cent lower at Rs 1529.65 on the BSE. Meanwhile, the company’s board recommended a dividend of 160 per cent (Rs 16 per share of Rs l0 each) for the just concluded fiscal, subject to the approval of the members at the forthcoming AGM.
Tata Elxsi provides design and technology services for product engineering and solutions across industries such as automotive, broadcast and communications. Its portfolio of offerings include technology consulting, new product design, development, and testing services.