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Note: All numbers have been rounded to the nearest decimal place for convenience of representation.
I am happy to report a healthy top-line growth of 3.7% QoQ and 15.5% YoY in a challenging quarter for the industry. Our EBITDA has grown 4.8% QoQ and 16.3% YoY and our EBITDA margin has improved by 31 bps QoQ to 29.9%. This underlines our strong focus on delivery and operational excellence, key account management and differentiated offerings.
Our Transportation business, which accounts for 46.2% of the vertical revenues, witnessed strong growth of 6.9% QoQ and 19.1% YoY in constant currency. During the quarter, we also won a landmark multi-year large deal for SDV from one of the leading Automotive OEMs.
Our Healthcare & Lifesciences business too registered a healthy growth of 3.2% QoQ and 4.8%
YoY in constant currency.
Our Media & Communication business continues to face a cautious industry environment and has declined marginally by 0.4% QoQ and 1.3% YoY in constant currency basis. We continue to closely engage with our key customers and are developing new offerings and relevant partnerships that will help them drive
efficiencies and create new revenue streams in a challenging business environment.
We are happy to report that our Industrial Design division crossed Rs. 100 crores in revenues for the first time in a quarter, growing 4.0% QoQ and 26.2% YoY in constant currency.
We continue to invest in building our talent pipeline with a net add of 585 Elxsians in the quarter. Our employee engagement and talent retention strategies have contributed to attrition further improving to 13.7%.
We are starting our third quarter with the confidence in our differentiated Design-Digital capabilities and a strong deal pipeline.
850.3881.7
763.2
Q2'23
Q1'24
Q2'24
29.7%
29.6%
29.9%
Q2'23
Q1'24
Q2'24
27.98
30.32
32.12
11,679
12,286
12,871
Q2'23
Q1'24
Q2'24
Q2'23
Q1'24
Q2'24
Revenues from operations at Rs. 881.7 Cr, + 3.7% QoQ, + 15.5% YoY
Operating revenue growth +3.4% QoQ and +10.1% YoY on constant currency basis
Operating Margin at 29.9%; Net Margin (PBT) at 28.9%
Profit Before Tax (PBT) at Rs. 263.9 Cr, +20.4% YoY
Profit After Tax (PAT) at Rs. 200.0 Cr, +14.8% YoY
Transportation growth at 7.1% QoQ and 26.1% YoY, aided by large deals and strong traction in Software Defined Vehicles (SDV).
Healthcare growth at 3.6% QoQ and 8.5% YoY, driven by new product engineering, digital health and regulatory services.
Media and Communications grew 2.8% YoY aided by platform-led deals and growth in key accounts, amidst widespread industry slowdown.
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Tata Elxsi Ltd. published this content on 17 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 October 2023 11:24:31 UTC.
Tata Elxsi Limited is an India-based global design and technology services company. The Company's business segments include system integration and support, and software development and services. It has expertise in automotive engineering spanning areas, such as advanced driver-assistance systems, autonomous driving, electrification, and connected car solutions. The Company supports clients in reimagining their products and services by applying design thinking and digital technologies such as Internet of things (IoT), cloud, mobility, virtual reality and artificial intelligence. The Company offers platforms and solutions such as TETHER, which is a connected vehicle platform; TECockpit, which is an integrated cockpit solution, and Autom@TE, which is a test automation suite. The Company provides digital content creation for the media and entertainment industry. It provides services across industries, including automotive, broadcast, communications, healthcare and transportation.