Profit before tax (PBT) stood at Rs 298.71 crore in the September 2024 quarter, registering a growth of 18.35% QoQ and 13.21% YoY.

EBITDA stood at Rs 266.4 crore in the quarter ended 30 September 2024 (up 5.59% QoQ and up 1.06% YoY). EBITDA margin was at 27.9% in Q2 FY25 as compared to 27.2% posted in Q1 FY25 and 29.9% in Q2 FY24.

The revenue growth stood at 5.1% YoY and 0.2% QoQ in constant currency (CC) terms.

Transportation growth was at 4.4% QoQ in CC terms, aided by large deals including a $50 million multi-year deal with a leading global OEM.

Healthcare declines 11.2% QoQ in CC terms impacted by deal renewal delays with our leading customer, even as we added key new customers and expect recovery starting Q3 FY25.

Media and Communications revenue declines by 2.6% QoQ in CC terms even as the business sees green shoots for growth, led by network transformation and AI-led services.

The company's total headcount in Q2 of FY25 stood at 12,793. Attrition rate stood at 12.5% in Q2 FY25 as compared to 13.7% in Q2 FY24 and 12.3% in Q1 FY25.

Manoj Raghavan, CEO and managing director of Tata Elxsi, said, “Our operational and offshore delivery excellence, fiscal discipline, and differentiated offerings, have contributed to our EBITDA margins expanding by 70 basis points to 27.9% for the quarter. Our PAT grew by 24.6% QoQ to 229.4 crore, with the superior bottom-line performance further aided by R&D incentives and tax credits from previous years.

Our strategic focus on expanding our business in Japan, emerging markets and capitalising on the India opportunity, is now starting to significantly contribute to our growth. During the quarter, our revenue from India has grown by 31.2% YoY, while Japan and emerging markets grew smartly at 81.9% YoY.

We also launched a state-of-the-art robotics innovation lab in Frankfurt, in partnership with Denso Robotics and AATech, designed to revolutionize automation and robotics for various sectors including precision surgery and healthcare.

We step into the third quarter of this financial year with the confidence of our design-digital proposition, a healthy deal pipeline, continued growth in our transportation business, large deal wins and recovery in our other key verticals.”

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

Shares of Tata Elxsi fell 0.45% to currently trade at Rs 7,724 on the BSE.