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The Business Line
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October 28, 2003 - Tata Elxsi, the technical computing arm of the Tata Group, has reported a growth of 35 percent in net profits and 30.5 in turnover for the quarter ending September 30, 2003 over corresponding period previous year.
Tata Elxsi reported a net profit of Rs. 3.90 crore on turnover of Rs. 36.76 crore for the quarter as compared to a net of Rs. 2.89 crore on turnover of Rs. 28.15 crore in corresponding period last year. On a sequential basis, the companys net profit jumped by 106 percent during the quarter over previous quarter, while its revenues increased by 8.4 percent.
Commenting on the results, CEO, Mr. Madhukar Dev said the software services business grew significantly during the quarter. "The improved profitability is primarily due to a strong growth in our software services business and we expect the same trend to continue" Mr. Dev said. |
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