Tata Elxsi Faces Profit Slump Amid Broader Market Gains
Shares of Tata Elxsi fell by 3% after the company announced a 32.5% drop in net profit for the July-September quarter. Despite the decline, broader market indices like the BSE Sensex and NSE Nifty50 showed gains. Revenue from operations also decreased by 3.8% compared to the previous year.
- Country:
- India
Tata Elxsi shares dipped by 3% on both NSE and BSE following a disappointing financial report. The firm reported a 32.5% decline in net profit for Q3, alarming investors and affecting share prices.
Despite Tata Elxsi's slump, broader market indices such as the BSE Sensex and NSE Nifty50 experienced growth, with the Sensex climbing by 349.64 points.
The company's revenue from operations was recorded at Rs 918 crore, marking a 3.8% drop from the previous year's figures, raising further concerns among stakeholders.
(With inputs from agencies.)
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