July 14 (Reuters) – Indian engineering research and development firm Tata Elxsi reported an 18.2% rise in first-quarter profit on Tuesday, supported by strong tech spending from global operators, broadcasters and device manufacturers.
• Profit rose to 1.71 billion rupees ($17.78 million) for the three months ended June 30, from 1.44 billion rupees a year ago
• Tata Elxsi said it will be making targeted investments in talent, AI-powered platforms, tools and infrastructure in fiscal year 2027
• Revenue from transportation, its largest segment, rose 6.7% on-year in constant-currency terms, helped by a strong demand in aerospace and segments such as farming, mining and construction
• Revenue from its media and communications segment grew 11.5%
• Overall revenue increased 14.5% to 10.21 billion rupees
• The engineering and research and design industry has been facing headwinds due to the limited adoption of electric vehicles and a macro overhang that has hurt tech spending
($1 = 96.2000 Indian rupees)
(Reporting by Sai Ishwarbharath B in Bengaluru; Editing by Mrigank Dhaniwala)
