Tata Elxsi (TATAELXSI) Q4 00/01 earnings summary

Executive summary

• FY2000-01 total income was Rs 13,790.10 lakh and net profit after tax was Rs 1,386.40 lakh, both higher than FY1999-00; design and development revenue doubled to Rs 56 crore.

• Performance benefited from lower borrowing costs, stronger export-oriented software operations and a higher share of dollar business; management viewed the year ahead with cautious optimism.

Financial highlights

• Sales and services were Rs 13,674.04 lakh vs Rs 12,373.72 lakh; total income was Rs 13,790.10 lakh vs Rs 12,474.82 lakh.

• Profit before tax was Rs 1,496.40 lakh vs Rs 757.89 lakh; net profit after tax was Rs 1,386.40 lakh vs Rs 670.50 lakh.

• Personnel expenses rose to Rs 3,232.71 lakh from Rs 2,075.31 lakh; financial expenses fell to Rs 306.80 lakh from Rs 365.87 lakh.

Outlook and guidance

• Management expected cautious optimism despite the US industry slowdown; overseas offices in the US, Japan and London were positioned to grow business.

• Future growth priorities included specialized CAD/CAM applications, broadband networking, storage and clustered solutions, and expanding software and technology capabilities.

• A development centre at Technopark, Trivandrum, was being established to augment Systems Development resources.