Shares of Tata Elxsi crashed around 8 percent in morning deals on Friday, January 10 after the company missed Street estimates in the third quarter (Q3FY25) results.
The stock fell as much as 7.9 percent to its day’s low of ₹5935.05.
Tata Elxsi announced a 3.5 per cent fall in net profits to ₹199 crore in the October to December quarter results of the financial year 2024-25, compared to ₹206.43 crore in the same quarter the previous year, according to the company’s exchange filing. The software and consulting firm’s revenue from core operations rose 3 per cent to ₹939.17 crore in the third quarter, compared to ₹914,23 crore in the same quarter the previous year.
“We continue to see positive outcomes of our strategic business focus on Japan, emerging markets and capitalising on the India opportunity. During the quarter, our revenue from India has grown by 21.9 per cent YoY, while Japan and emerging markets grew at 66.8 per cent YoY. This will serve us well over the next few quarters even as we navigate geopolitical uncertainty, currency volatility and industry specific challenges in Europe and US,” said Manoj Raghavan the chief executive officer (CEO) and managing director of Tata Elxsi.
