Oct 17 (Reuters) – Indian design and technology services company Tata Elxsi (TTEX.NS) on Tuesday posted a rise in quarterly profit, helped by growth in its transportation segment.
The company’s net profit rose 14.8% year-on-year to 2 billion rupees ($24.03 million), while revenue from operations climbed to 8.82 billion rupees.
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WHY IT MATTERS
Tata Elxsi’s results come after larger peers Tata Consultancy Services (TCS.NS) and Infosys (INFY.NS) posted an 8.7% and 3.2% rise in profit for the quarter, respectively, while flagging weak client spending amid inflationary pressures and high interest rates.
The company’s transportation business grew 26.1% year-on-year, helped by large deals and strong traction in Software Defined Vehicle engagements.
JULY-SEPTEMBER STOCK PERFORMANCE
PEER COMPARISON
Valuation (next 12 months)
Estimates (next 12 months)
Analysts’ sentiment
RIC
PE
EV/EBITDA
Revenue growth
profit growth
Mean rating
# of analysts
Stock to price target
Div yield (%)
Tata Elxsi Ltd
TTEX.NS
52.65
38.69
17.30
13.99
SELL
7
1.24
0.81
L&T Technology Services Ltd
LTEH.NS
35.29
22.86
16.73
13.87
SELL
23
1.25
0.96
KPIT Technologies Ltd
KPIE.NS
52.59
31.77
26.79
33.61
HOLD
10
1.13
0.33
LTIMindtree Ltd
LTIM.NS
28.17
19.35
11.50
16.26
HOLD
36
0.97
1.16
* Mean of analysts’ ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** Ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
