Tata Elxsi (TATAELXSI) Q4 97/98 earnings summary

Executive summary

• FY1997-98 net profit rose to Rs 207.04 lakh from Rs 55.93 lakh; revenue from sales and services reached Rs 8,080.49 lakh.

• Domestic systems integration and overseas software and hardware design services remained the two core business areas; nearly 50% of business came from existing customers.

Financial highlights

• Total income was Rs 8,178.30 lakh, comprising sales and services of Rs 8,080.49 lakh and other income of Rs 97.81 lakh.

• Profit before tax was Rs 231.33 lakh versus Rs 55.93 lakh; profit after tax was Rs 207.04 lakh versus Rs 55.93 lakh.

• Financial expenses were Rs 360.58 lakh versus Rs 367.96 lakh; depreciation was Rs 386.96 lakh versus Rs 361.92 lakh.

Outlook and guidance

• Overseas software and development services, exports, market reach, productivity, project execution quality, and employee skills were identified as continuing priorities.

• A proposed name change to Tata Elxsi Limited was submitted for shareholder approval and required Central Government approval, to reflect business growth plans.