Tata Elxsi rises after Q3 profit grows 29%; Morgan Stanley still sees 14% downside

Tata Elxsi’s net profit for Oct-Dec came in at Rs 194.68 crore, up 28.97 percent from Rs 150.95 crore in December 2021.

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Tata Elxsi share price edged higher during early trade on January 27 despite weak market conditions. At 09:53 am, the stock quoted Rs 6,657.50, up Rs 60.70, or 0.92 percent.

The company reported its earnings for Oct-Dec wherein net profit came in at Rs 194.68 crore, up 28.97 percent from Rs. 150.95 crore in December 2021. EBITDA came in at Rs. 265.99 crore in the given quarter, up 22.38 percent from Rs 217.35 crore in a year ago.

The company has reported EPS of Rs. 31.26 for the period ended December 31, 2022 as compared to Rs. 27.98 for the period ended September 30, 2022.

It also reported total income of Rs 836.87 crore during the period ended December 31, 2022 as compared to Rs 641.9244 crore during the period ended December 31, 2021.