IT Consulting and Software company Tata Elxsi announced Q1FY24 results: Revenues from operations at Rs 850.3 crore Industry-leading EBITDA Margin of 29.6% Profit before Tax of Rs 248.3 crore Crosses 12,000 employee mark with 422 net additions in the quarter Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance in the first quarter of FY24, said: “We are happy to report a healthy growth of 17.1% YoY in the current macro-economic environment, while delivering industry leading EBITDA margin of 29.6%. While the overall global economic outlook remains challenging, our customer focus and targeted efforts to keep the growth momentum going is showing good results. During the quarter, our Healthcare & Lifesciences business has reported a healthy QoQ growth of 3.4% which is a significant improvement over the performance during the earlier two quarters. This vertical also reported new product development deal wins for medical diagnostics and Smart Hospital equipment. In the Transportation business, we continue to drive differentiated software capability and scale, and see good traction and a strong deal pipeline, especially in Software Defined Vehicles and EV. While some deal closures were delayed in this quarter, we won significant new deals including a strategic multi-year multi-million US$ SDV deal with a leading Asian OEM for their SDV platform and software development, and a multi-country licensing and deployment of our Connected vehicle platform with a global Top 5 OEM. To expand our automotive and smart mobility focus in North America, we have opened an Innovation Hub and nearshore engineering centre in Troy, Michigan that will innovate along with leading institutes and technology ecosystem in the region. We also signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology, Guwahati (IIT-G) to jointly work on developing and commercializing state-of-the-art solutions for the fast-evolving space of electric mobility." Result PDF