The share price of Tata Elxsi fell almost 5 percent in intra-day deals on Wednesday after the IT firm reported disappointing results for the quarter ended December (Q3FY24).
Tata Elxsi is expected to report healthy growth in revenue and EBITDA on a year-on-year (YoY) basis, but EBIT margins are likely to contract up to 240 basis points (bps) on a yearly comparison.
The quarter has been about investing for the future and the second half looks good with “a strong order book and a healthy deal pipeline across key markets and industries.”