By Malvika Gurung
Investing.com -- Shares of the product design arm of Tata Group, Tata Elxsi (NS: TTEX ) ended Wednesday’s session surging 9.4% to Rs 6,977.25 apiece, after zooming 12.6% to record a fresh high of Rs 7171 apiece on the BSE, backed by strong growth in earnings results for the quarter ending December 2021. This surge happened despite the broader index Nifty declining by almost 1% in today's trade.
The company’s PAT grew 43.5% in Q3 to Rs 151 crore YoY and 20.4% on a QoQ basis. At the same time, its revenue grew 33.2% YoY to Rs 635.4 crore in Q3, and 6.7% sequentially.
Tata Elxsi’s EBITDA rose 46.8% YoY to Rs 210.8 crore, rising 14.8% on a QoQ basis in Q3, while its EBITDA margin came out to be 33.2% in the quarter under review, compared to 30.1% last year and 30.8% in Q2 FY22.
The company’s management attributed its growth to its largest division, Embedded Product Design, which grew 36% YoY in Q3 and 9.9% on a QoQ basis.
In 13 sessions, the stock has risen 18.5% and 159% in a year.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.