Tata Elxsi up 4.3% despite paring some early gains

Last Updated: Fri, Nov 25, 2016 12:33 hrs
Tata Elxsi

Shares of system integration and software development services provide Tata Elxsi Limited are trading sharply higher today on the back of the company significantly increasing its workforce.

Tata Elxsi is trading 4.3% up at Rs 1205.70, after having advanced to Rs 1212 earlier in the session.

Tata Elxsi has increased its workforce significantly, by adding more than 20% to its design and technology unit, over the past four months. The addition was done through fresh hires, roping in fresh engineers and post graduates.



Tata Elxsi, which provides system integration and software development services to its clients from across industries such as consumer electronics, aerospace, FMCG, entertainment and telecom, posted a net profit of Rs 43.08 crore in the September 2016 quarter, as compared to net profit of Rs 38.1 crore in the September 2015 quarter. Total income increased from Rs 266.37 crore for the quarter ended September 30, 2015 to Rs. 300.25 crore for the quarter ended September 30, 2016.

In the June 2016 quarter, Tata Elxsi had posted a net profit of Rs 41.93 crore, up more than 17% over the corresponding quarter in the previous year.

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