Tata Elxsi, a provider of design-led technology services, announced its results for the second quarter ended September 30, 2019.
Highlights & Recognitions for Q2 FY20:
- Revenue from operations at ₹ 3858 million; growth of 6.7% QoQ
- Transportation vertical grew 9% QoQ
- Design and Visualization business grew 13% QoQ
- Tata Elxsi won a silver at the AUTOSENS Awards 2019 in Bonn, Germany for its innovative Augmented Reality V2X Simulation Tool, AR-V2X
The company reported all-round growth QoQ across key verticals, business divisions and geographies in the financial quarter ending Sep 30, 2019. The Transportation vertical which contributes over 45% of the revenue, grew at above 9% QoQ. Media and Communications delivered another quarter of steady growth at 5%. The design and visualization business also showed strong growth with a 13% increase QoQ.
The quarter saw additions of some leading customers across verticals, including some large deals in the Electric Vehicles, Connected cars, and OTT segments.
“ The company has delivered steady growth across businesses and geographies. The transportation vertical saw a sharp recovery from last quarter, helping overcome the decline with the top customer that impacted our results in the first quarter. The performance was a combination of mining existing customers as well as new customer additions. We have won some large deals in both automotive and Media & Communications verticals and added new customers across geographies that we expect to grow in further quarters ”, said Manoj Raghavan, CEO & MD, Tata Elxsi.
Tata Elxsi is a providers of design and technology services across industries including Automotive, Broadcast, Communications and Healthcare. It is helping customers reimagine their products and services through design thinking and application of digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality and Artificial Intelligence.
Tata Elxsi creates innovative products, services and experiences to build brands and help businesses grow. By intersecting design and technology, we help clients globally to bring new ideas and products to market. Its services span across research and strategy, all the way up to Design, Visualisation – Augmented Reality and Virtual Reality, and is supported by a network of design studios, development centers and offices worldwide. It offers innovative, cost-effective and scalable solutions that enable brands to differentiate and win.