In early trade on July 11, shares of Tata Elxsi dropped more than two per cent as the Tata group company reported a three percent decline in net profit for the first quarter of the financial year 2024–2025.
The firm reported a net profit of Rs 184 crore for the first quarter of the financial year 2024-2025, compared to Rs 188 crore the previous year.
Compared to Rs 850 crore in the same quarter of the previous fiscal year, revenue from operations increased by 9% in the June quarter to Rs 926 crore.
Tata Elxsi shares were trading at Rs 6,950.1 on the NSE at 9:17 am, down 2.4 percent from the closing price of the previous session.
According to Kotak Institutional Equities, Tata Elxsi’s results were somewhat higher than its revenue growth and profitability estimations. Revenue increased 2.4 percent on a sequential bases, driven by big transaction ramp-ups and likely solid performance at JLR.
As of 11:21 am, Tata Elxsi shares were trading 1.89% lower at ₹6983.25 on the NSE.
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