Mumbai, July 10 Tata Elxsi's net profit declined over 20 per cent to Rs 144.36 crore in the first quarter of FY26 on a year-on-year (YoY) basis, as per its exchange filing on Thursday.
The Tata Group's firm had posted Rs 184.07 crore profit in the same quarter in FY25.
The company's profit declined 16 per cent on quarter-on-quarter (QoQ) basis as well. It posted Rs 172.41 crore profit in the January-March quarter (Q4 FY25).
Meanwhile, revenue from the operation of the design and technology provider stood at Rs 892.09 crore, falling marginally against the last quarter's number of Rs 908.33 crore. The revenue declined approximately Rs 34 crore on a YoY basis as well.
In the same period last year, the revenue from operations of the firm was Rs 926.45 crore, the filing showed.
“This quarter was challenging across key markets, with macroeconomic uncertainties, industry and customer-specific issues impacting R&D spend and decision-making cycles across geographies,' said Manoj Raghavan, CEO and MD of Tata Elxsi in a company statement.
“The company has demonstrated resiliency in protecting business in our largest vertical, executing on large deal wins across key verticals to create sustained revenue streams, and expanding our relationships with our customers," Raghavan added.
Meanwhile, Tata Elxsi shares closed in negative territory at Rs 6,136.0, down 0.26 per cent.
Tata Elxsi is a provider of design and technology services across industries, including Automotive, Broadcast, Communications, Healthcare and Transportation.
The company’s transportation business that represents over 50 per cent of its overall revenues, recovered to report a 3.7 per cent growth QoQ in actual currency, and flat in constant currency terms.
“We are executing on our adjacency strategy, with two strategic deal wins in the quarter. We see continued recovery and growth of our transportation business through the rest of the year, backed by the deals we have won, a healthy pipeline of large deals and new customer logos,” according to Raghavan.
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