Rs 60.60/Share Dividend Recommended: Tata Group Co Declares 26% Rise In Profit

Mid cap company operating in IT Software sector, Tata Elxsi Ltd on Friday announced a jump of 26.25% in its consolidated net profit to Rs 202 crore for the March quarter. The Tata Group company declared its net profit at Rs 160 crore a year ago. Tata Elxsi share price on BSE ended at Rs 7022.75 as of May 19, 2023 with intraday gain of 0.30%. Tata Elxsi stock gave 809% return in last 3-years. Check details below:

Tata Elxsi Declares Solid Final Dividend: According to the BSE filing of the company, "Further, we are pleased to inform you that the Board of Directors has recommended a final dividend of 606% at Rs. 60.60 per share for the financial year 2022-23, subject to tax, which shall be paid/dispatched on or after the seventh day from the conclusion of the 34th Annual General Meeting, subject to the approval of the shareholders of the Company."

Tata Elxsi Q4: It declared its consolidated revenue from operation jumped by 22.87% to Rs 838 crore for the March quarter against Rs 682 crore announced in the year-ago period.

"Financial year 2023 has been another year of strong operational performance, driving healthy revenue growth and strong margins despite the macroeconomic uncertainties and challenges that the industry has been facing since last few quarters. In a matter of just two financial years, our top line has grown by 72 per cent to Rs 3,144.7 crore and our PAT has almost doubled to Rs 755.2 crore," said Manoj Raghavan CEO and MD of Tata Elxsi Ltd.

Tata Elxsi Stock Performance & Return: Tata Elxsi stock price as of May 19, 2023 is Rs 7022.75 apiece. The stock's 52-week high price is Rs 10,760.40 apiece and 52-week low price is Rs 5708.10 apiece, respectively. The company has a market capitalisation of Rs 43,735.19 crore. Tata Elxsi share jumped 11% in just last 1-month, 2% in last 6-month, declined 14% in last 1-year, jumped 92% in last 2-years, and a massive 809% in last 3-years.

Tata Elxsi About: Tata Elxsi commenced its business on 5th May 1989 in Bangalore, the Silicon Valley of India, to develop and promote applications of electronics, embedded systems, and software. The Mission was to foster innovation in the fast-emerging IT market and accelerate the adoption of leading-edge technologies. Today, Tata Elxsi is recognized as a premium engineering service provider worldwide and amongst the leaders in the automotive, media, broadcast, communications, and healthcare industries, according to its official website.