Monday, 27 July 2015

Tata Elxsi soars over 10% on strong Q1 results

 Tata Elxsi soared 14% to Rs 1,612 on the NSE after the company reported a strong 71% year-on-year (YoY) growth in net profit at Rs 35.72 crore for the quarter ended June 30, 2015 (Q1).

The company, engaged in 
IT software products business, had posted a profit of Rs 20.83 crore in the same quarter a year ago. It had profit of Rs 30 crore in the March quarter.

Income from operations increased 28% at Rs 244 crore in the June quarter against Rs 191 crore in the corresponding quarter of previous fiscal.

EBITDA (earnings before interest, tax, depreciation and amortization) margins expanded by 300 basis points at 23% in the June quarter against 19.8% in the year-ago's corresponding quarter.

The stock touched a record high of Rs 1,616 on the NSE and has seen an over three-fold jump in trading volumes. Till 02:25pm, a combined 4.39 million shares changed hands on the counter on the NSE and BSE.

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