India's Tata Elxsi posts higher quarterly profit on growth in transportation unit
India's Tata Elxsi posts higher quarterly profit on growth in transportation unit Oct 13 (Reuters) - Indian engineering research and development firm Tata Elxsi TTEX.NS reported a 10% rise in second-quarter profit on Tuesday, driven by growth in its transportation and media segments.
The company's profit rose to 1.7 billion rupees ($17.84 million) for the three months ended September 30 from 1.55 billion rupees a year ago
Tata Elxsi said operational efficiencies helped improve core profit margins despite salary revisions across its workforce during the quarter
Revenue from transportation, its largest segment, rose 9.4% on-year in constant-currency terms. The company said it secured new deal wins and saw traction in adjacent markets, particularly aerospace
Revenue from its media and communications segment grew 10.9%, supported by deal ramp-ups and new deal wins
Overall revenue increased 15% to 10.56 billion rupees
The engineering research and design industry has been facing headwinds due to the limited adoption of electric vehicles and a macro overhang that has hurt tech spending
($1 = 95.2800 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru; Editing by Shreya Biswas)
((aleefjahan.cs@thomsonreuters.com;))
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