Profit before tax for the period under review stood at Rs 248.3 crore, registering a growth of 8.9% YoY.

Tata Elxsi said that the Industrial Design & Visualization division recorded a strong growth of 41.1% YoY in constant currency terms. The company's design-digital offerings continue to drive volume led growth in a challenging global market environment.

Transportation continues to show healthy growth, registering a revenue growth of 17.0% YoY in constant currency terms, and a healthy large deal pipeline across SDV and EV.

Healthcare signalled a strong recovery, registering 3.2% QoQ growth in Q1 of FY24 in constant currency.

Manoj Raghavan, CEO and Managing Director, Tata Elxsi, said: “We are happy to report a healthy growth of 17.1% YoY in the current macro-economic environment, while delivering industry leading EBITDA margin of 29.6%. While the overall global economic outlook remains challenging, our customer focus and targeted efforts to keep the growth momentum going is showing good results.

On the people front, we continue to invest in our talent base. With a net add of 422 Elxsians in this quarter, the Tata Elxsi family is now 12,000+ strong, with attrition dropping further to 15.6%.

We have driven strong operational excellence across the organization and protected our EBITDA margins, despite wage hikes and strong employee additions in the quarter. Our Effective Tax Rate (ETR) in this quarter has increased on account of lower tax exemption due to completion of 5 years for two of our SEZ units, impacting our PAT margins.”

Tata Elxsi is amongst the world's leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare and transportation.

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