Tata Elxsi shares in news today after IT major reports Rs 184 crore profit in Q1

Shares of Tata Elxsi Ltd are in focus today after the firm reported a 3 percent fall in net profit for June 2024 quarter. Net profit climbed to Rs 184 crore for the first quarter of financial year 2024-2025 against a net profit of Rs 188 crore in the year-ago period. In the previous session, Tata Elxsi stock ended 1.43% higher at Rs 7118.80. Market cap of the IT firm rose to Rs 44,333 crore.

The large cap stock hit a 52-week low of Rs 6406.60 on June 4 , 2024 and a 52 week high of Rs 9191.10 on December 18, 2023.

It opened higher at Rs 7050 against the previous close of Rs 7018.45 on BSE. Total 0.28 lakh shares of the firm changed hands amounting to a turnover of Rs 19.55 crore on BSE.

Revenue from operations rose 9 percent in Q1 to Rs 926 crore as against Rs 850 crore in the same quarter last fiscal. Sequentially, net profit declined 6 percent from Rs 196 crore in December quarter and revenues rose 2 percent.

EBITDA or earnings before interest, taxes, depreciation, and amortization, fell 3.6 percent to Rs 225 crore against Rs 233.7 crore while EBIT margin contracted 105 basis points to 24.3 percent versus 25.8 percent.