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  • Tata Elxsi's Q4 net profit stands at Rs 81.35 million

    Submitted by ITV Production on Apr 22
    indiantelevision.com Team

    MUMBAI: Technology and engineering services provider Tata Elxsi?s consolidated net profit for the quarter ended 31 March marginally dropped to Rs 81.35 compared to Rs 82.6 million in the same quarter of the previous fiscal.

    The company?s total income from operations grew to Rs 1.63 billion from Rs 1.45 billion. Keeping pace with revenues, the expenditure during the quarter also increased to Rs 1.47 billion from Rs 1.28 billion.

    For the full fiscal, Tata Elxsi?s consolidated net profit dipped to Rs 213 million from Rs 345.8 million in the trailing fiscal.

    The company?s total income from operations stood at Rs 6.21 billion for the year ended 31 March compared to Rs 5.38 billion in the corresponding fiscal. Its expenditure during the fiscal jumped to Rs 5.73 billion from Rs 4.85 billion due to increase in employee benefits expense and other expenses.

    Its services segment, comprising Embedded / Electronic design, Industrial Design and Animation services, grew to Rs 5.52 billion during the fiscal under review from Rs 4.54 billion in the previous fiscal.

    Tata Elxsi MD and CEO Madhukar Dev said, ?Tata Elxsi achieved a robust growth of 22 per cent in the services segment and an overall growth of 15 per cent, despite scaling down the operations of Visual Computing Labs (VCL), the animation and VFX business.

    "The company launched two key initiatives to scale VCL in the past two years, entering into a Joint Venture to develop and produce original content for children?s entertainment, and setting up a VFX studio in Los Angeles. While these showed initial promise, they did not perform as expected and adversely impacted the company?s results in FY13.?

    The two main services of the company, Embedded/Electronics Design and Industrial Design reported strong growth, even as the company has quickly taken steps to contain any further negative impact from the initiatives in VCL.

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