India's Tata Technologies posts quarterly profit rise, retains revenue forecast
India's Tata Technologies posts quarterly profit rise, retains revenue forecast BENGALURU, July 17 (Reuters) - Indian engineering research and development firm Tata Technologies TATE.NS reported a 6.1% rise in first-quarter profit on Friday, on a boost from its services segment.
Tata Technologies, which provides engineering, product design and manufacturing digitalisation services to automotive, aerospace and industrial machinery clients, counts JLR and Tata Motors TATM.NS among its largest clients
The Tata group company's profit rose to 1.81 billion rupees ($18.8 million) for the quarter ended June 30, from 1.70 billion rupees a year earlier
Revenue jumped 34% to 16.65 billion rupees
The company retained its double-digit organic revenue growth for fiscal year 2027 on the back of investments in AI, operational efficiency, and continued portfolio diversification, CEO Warren Harris said in a statement
Engineering research and development firms, which largely depend on orders from the U.S. and Europe, have been under pressure due to slowing adoption of EVs and clients cutting back on spending amid geopolitical tensions
($1 = 96.37 Indian rupees)
(Reporting by Sai Ishwarbharath B in Bengaluru; Editing by Mrigank Dhaniwala)
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