New Delhi, Apr 20 (PTI) Technology services firm Tata Elxsi on Wednesday posted a 38.9 per cent increase in net profit at Rs 160 crore in the fourth quarter ended March 2022.

The company had registered a net profit of Rs 115.16 crore in the year-ago period.

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The income from operations grew by 31.5 per cent to Rs 681.73 crore during the quarter from Rs 518.39 crore in March 2021 quarter.

For the year ended March 2022, Tata Elxsi's net profit grew 49.3 per cent to Rs 549.67 crore from Rs 368.12 crore a year ago.

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Tata Elxsi's annual income from operations rose 35 per cent to Rs 2,470.79 crore compared to Rs 1,826.15 crore in 2021-22.

“This has been the strongest year of growth in the company's history and an all-around performance across business units, industries and geographies. Our Transportation business is now on a path of accelerated growth, with our differentiated EV, Autonomous, Connected and Digital capabilities powering large deal wins,” Tata Elxsi CEO and Managing Director, Manoj Raghavan said in a statement.

The healthcare business of the company grew by 72.4 per cent on a year-on-year basis over 2020-21.

"We continue to win market share and strengthen our position in the market, supported by the passion and commitment to delivery excellence and customer delight from the entire Tata Elxsi team. On the whole, it has been a great performance amidst a year of pandemic-led disruptions and supply related challenges across the industry. We continue to invest in building our talent pipeline to fuel continued growth," Raghavan said.

The company's board recommended a final dividend of Rs 42.50 per equity share of par value of Rs 10 each for the financial year ending March 31, 2022.

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