BWI: Tata Elxsi Announces Financial Results for the Year Ended March 31, 2013

Press release from Business Wire India
Source: TATA ELXSI
Monday, April 22, 2013 01:15 PM IST (07:45 AM GMT)
Editors: General: Consumer interest, People; Business: Banking & financial services, Business services, Financial Analyst, Heavy industries, Information technology, Major diversified industrial groups, Stock exchanges; Technology; Automotive
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Tata Elxsi Announces Financial Results for the Year Ended March 31, 2013


Bangalore, Karnataka, India, Monday, April 22, 2013 -- (Business Wire India) -- Tata Elxsi Ltd reported consolidated operating income of Rs. 621.67 Crores for the year ended 31st March 2013, an increase of 15 % over FY 2012.

The operating income for Q4 FY 13 was Rs. 163.43 Crores as compared to Rs. 156.67 Crores for Q3 FY 13, an increase of 4.3% on a sequential quarter basis. The operating profits rose
to 16.27 Crores from 10.33 Crores, an increase of 57% on a sequential quarter basis.

Its services segment, comprising Embedded / Electronic design, Industrial Design and Animation services, grew by 22% to 552.95 Cr in FY13 from 454.25 Cr in FY 12.

Commenting on the 2012-13 performance, Mr. Madhukar Dev, MD & CEO said " Tata Elxsi achieved a robust growth of 22% in the services segment and an overall growth of 15%, despite scaling down the operations of Visual Computing Labs (VCL), the animation and VFx business.

The company launched two key initiatives to scale VCL in the last two years, entering into a Joint Venture to develop and produce original content for children's entertainment, and setting up a VFX studio in Los Angeles. While these showed initial promise, they did not perform as expected and adversely impacted the company's results in FY13.

The two main services of the company, Embedded/Electronics Design and Industrial Design reported strong growth, even as the company has quickly taken steps to contain any further negative impact from the initiatives in VCL.

About Tata Elxsi:

Tata Elxsi is a design company that blends technology, creativity and engineering to help customers transform ideas into world-class products and solutions. A part of the $ 100 billion Tata group, Tata Elxsi addresses the communications, consumer products, defence, healthcare, media & entertainment, semiconductor and transportation sectors. This is supported by a talent pool of over 4000+ employees and a network of design studios, development centres and offices worldwide. Key services include embedded product design, industrial design, animation & visual effects and systems integration.



CONTACT DETAILS
Hari Balan, Corporate Manager, Tata Elxsi, media @tataelxsi.com

KEYWORDS
CONSUMER, PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, HEAVY INDUSTRIES, IT, GROUPS, STOCK EXCHANGES, TECHNOLOGY, AUTOMOTIVE

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