Tata Elxsi declares dividend of 40% Announces PBT of Rs. 20.15 crores for the period ending March 31, 2004

May 03, 2004 - Tata Elxsis Board of Directors recommended a dividend of 40% on the paid up capital while a PBT (profit before tax) of Rs. 20.15 crores for the period ending March 31, 2004 was announced on April 30, 2004.  The PBT for the year ending March 31, 2003 was Rs. 15.06 crores.

Mr. Madhukar Dev, CEO- Tata Elxsi Ltd said, “The augmented results shown by Tata Elxsi for the year ending March 31, 2004 is a reflection of the investments made last year.  The increase in the number of clients and the steady growth of our new division has contributed significantly to Tata Elxsis performance this year."

"The 40% dividend recommended by the Board is 15% higher than what was declared last year.  we hope to invest further and keep the growth momentum in the next financial as well,” he concluded.

Tata Elxsi’s revenues for the financial year ending March 31, 2004 amounted to Rs. 155.00 crores, as compared to Rs. 111.28 crores of last years.  Tata Elxsis Software development and services segment recorded revenues of Rs. 94.11 crores as compared to Rs. 77.57 crores for the year ended March 31, 2003, while the Systems Integration division, which caters to the domestic market, contributed Rs. 60.13 crores as compared to Rs. 33.12 crores of last years.