Latest News | Tata Elxsi Q4 Net Profit Declines 2.2 Pc to Rs 196.93 Crore
Get latest articles and stories on Latest News at LatestLY. Tata Elxsi, a provider of design-led technology services, on Tuesday reported a 2.2 per cent decline in net profit at Rs 196.93 crore in the fourth quarter ended in March.
New Delhi, Apr 23 (PTI) Tata Elxsi, a provider of design-led technology services, on Tuesday reported a 2.2 per cent decline in net profit at Rs 196.93 crore in the fourth quarter ended in March.
The company had posted a net profit of Rs 201.51 crore in the same period of the previous fiscal, Tata Elxsi said in a regulatory filing.
Also Read | Earth Day 2024: NIDM Hosts Discussion on Strategies to Combat Plastic Pollution.
Revenue from operations in the quarter under review stood at Rs 905.94 crore as against Rs 837.91 crore in the year-ago period, it added.
The company said its total expenses were higher at Rs 677.21 crore compared to Rs 613.39 crore a year ago.
For the fiscal ended March 31, 2024, the company's net profit was Rs 792.23 crore over Rs 755.19 crore reported in FY23, it said.
In FY24, revenue from operations stood at Rs 3,552.14 crore from Rs 3,144.72 crore a year ago, the company said.
The company's board has recommended a final dividend of 700 per cent, which is Rs 70 per equity share of par value of Rs 10 each, for the financial year ended March 31, 2024, subject to approval by the shareholders of the company at the annual general meeting, it added.
"Financial year 2024 has been a year of consistent operational performance with a revenue growth of 13 per cent despite global macroeconomic uncertainties, and volatility in the media and communications industry over the last few quarters," Tata Elxsi CEO and Managing Director Manoj Raghavan said.
On the outlook, he said, "We are entering the new financial year with a commitment for growth, and the continued confidence in our differentiated design-led engineering capabilities."
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)