By Aditya Raghunath
Investing.com -- Tata Elxsi Ltd (NS: TTEX ) shares hit a record high of Rs 2,300 in this week’s trading sessions. The stock has jumped from Rs 2,041 on January 8 to Rs 2,250 now, an increase of just over 10%.
The company’s sales increased by 11%, quarter on quarter to Rs 477.1 crore for the third quarter of FY2021. Net profit came in at Rs 105.2 crore, a 33% quarter on quarter growth. This was the highest PAT (profit after taxes) that the company recorded for any quarter.
The Americas territory registered 15.9% growth QoQ and Europe reported 6.2% growth. India’s growth for the same period was 19.9%.
The company’s largest vertical embedded product design grew by 9.3% QoQ and its industrial design and visualisation vertical grew by 27.5% QoQ.
Manoj Raghavan CEO and Managing Director, Tata Elxsi said, “It was a pretty satisfying quarter with all-round growth across industries and geographies. We continue to execute strongly on both top line and bottom line, with double digit QoQ revenue growth and industry leading operating margins.”
Tata Elxsi’s investor presentation showed that the revenue concentration of its top 10 clients has come down to 47.2% in Q3 from 49.3% in Q2.
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