Tata Elxsi Share Price Slump After Weak Earnings Reports

The Indian Design Company, the Tata Group part, Tata Elxsi Limited reported its Q1 numbers for the quarter ended June, 2019 on Wednesday during market hours. According to the results, the Company’s standalone revenue for quarter arrived at Rs.361.71-Cr, vis-a-vis Rs.382.03-Cr in the equivalent quarter year ago, clocking 5.3pc decline, year-on-year.

The EBITDA for the quarter was declined by 34.4pc to Rs.69.85-Cr V/s Rs.106.52-Cr in the same quarter last year, while EBITDA margin for the quarter scaled at 19.3pc. The profit after tax for the quarter stood at Rs48.79-Cr as against Rs70.49-Cr in the equivalent quarter last year, registering 30.8pc decline, year-on-year.

With response to this earning announcement, the stock of Tata Elxsi  which opened at Rs.811.10 per share touched an intraday high and low at Rs.811.40 and Rs.740 per share respectively and is currently  (at 1.45pm) quoting at 740.90  per share , down by 9.06% from its previous closing. The Stock intraday hit its new- 1-year or 52-week low at Rs.740.05 on the NSE.