Tata Elxsi Snaps Profit Decline with 27.8 Percent Q4 Rise
Tata Elxsi posted a 27.8 percent rise in quarterly profit to 2.20 billion rupees. Growth in transport and media units ended a five-quarter streak of declines.
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India engineering research and development firm TATA ELXSI LTD reported a significant turnaround in its financial performance for the fourth quarter. The company posted a 27.8% increase in profit, effectively ending a five-quarter streak of declining earnings.
Net profit for the quarter ended March 31 reached 2.20 billion rupees ($23.53 million), up from 1.72 billion rupees in the same period last year. This result comfortably exceeded the average analyst projection of 1.86 billion rupees, according to data from LSEG.
