Tata Elxsi Snaps Profit Decline with 27.8 Percent Q4 Rise

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.