Profit before tax for the period under review stood at Rs 263.9 crore, registering a growth of 20.4% YoY.

EBITDA stood at Rs 263.6 crore in Q2 FY24, registering the growth of 16.3% as compared with Rs 226.5 crore posted in Q2 FY23. EBITDA margin was 29.9% in Q2 FY24 as against 29.7% in Q2 FY23.

Tata Elxsi said that transportation growth at 7.1% QoQ, 26.1% YoY, aided by large deals and strong traction in Software Defined Vehicle (SDV) engagements.

Healthcare growth at 3.6% QoQ, 8.5% YoY, driven by new product engineering, digital health and regulatory services.

Industrial Design revenue crosses Rs 100 crore for the first time, growing 35.4% YoY.

Manoj Raghavan, CEO and managing director, Tata Elxsi, said , “We are happy to report a healthy performance in the second quarter with a top-line growth of 3.7% QoQ and 15.5% YoY in a challenging quarter for the industry. EBITDA has grown 4.8% QoQ and 16.3% YoY and EBITDA margin has improved by 31 bps to 29.9%. This underlines our strong focus on delivery and operational excellence, key account management and differentiated offerings.

During the quarter, we also won a landmark multi-year large deal for SDV from one of the leading Automotive OEMs.

We continue to invest in building our talent pipeline with a net add of 585 Elxsians in the quarter. Our employee engagement and talent retention strategies have contributed to attrition further improving to 13.7%.

We are starting our third quarter with the confidence in our differentiated Design-Digital capabilities and a strong deal pipeline.”

Tata Elxsi is amongst the world's leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare and transportation.