The share price of Tata Elxsi jumped more than 9 percent to a fresh 52-week high of Rs 3,340 apiece in early trade on Friday after the company reported strong March quarter earnings with a sharp increase in its net profit.

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The design-led technology services provider said its net profit in Q4FY21 increased 40.3 percent to Rs 115.16 crore from Rs 82.08 crore in the year-ago period.

Its revenue from operations rose 18.1 percent to Rs 518.39 crore from Rs 438.88 crore, YoY.

The company’s EBITDA margin was at 32.4 percent, while it reported net margin at 21.9 percent.

In FY21, the company’s net profit increased 43.7 percent to Rs 368.1 crore, while revenue grew 13.4 percent to Rs 1,826.2 crore over the previous fiscal.

The growth was led by America and India with both reporting 21.1 percent QoQ growth while Europe grew by 1.6 percent QoQ, the company said in a regulatory filing.

“It was a satisfying quarter with continued growth across offerings, industries and geographies,” said Manoj Raghavan, CEO and Managing Director, Tata Elxsi.

“Both Transportation and Media and Communications reported another steady quarter of sustained growth while our Healthcare business continues to grow faster. We have seen new customer additions and large deals in all three industry segments in the quarter,” he said.

“We have also closed some large deals, including a multi-million dollar deal with a global OEM for an integrated connected vehicle program in one of their key markets that will leverage our IoT platform,” added Raghavan.

The company’s net headcount stood at 7,362, with the attrition rate at 7.4 percent.

At 10:10 am, the shares of Tata Elxsi were trading 8.30 percent higher at Rs 3,299.00 apiece on the BSE.

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