Profit before tax (PBT) stood at Rs 255.84 crore in the quarter ended 31 December 2024 quarter, down 14.34% QoQ and 6.65% YoY.

EBITDA stood at Rs 246.6 crore in the quarter ended 31 December 2024 (down 7.4% QoQ and up 8.7% YoY). EBITDA margin was at 20.3% in Q3 FY25 as compared to 22.5% posted in Q2 FY25 and 21.7% in Q3 FY24.

The revenue growth stood at 2% YoY while remained flat on a QoQ basis in constant currency (CC) terms.

Transportation grew by 0.5% QoQ in CC terms, amidst longer deal closure cycles being witnessed in the automotive industry.

Healthcare grew by 1.1% QoQ in CC terms with new customer wins and traction from digital and Gen AI-powered offerings.

Media and Communications revenue grew by 0.4% QoQ in CC terms in a quarter that is traditionally soft and impacted by furloughs.

The company's total headcount in Q3 of FY25 stood at 12,878. Attrition rate stood at 12.4% in Q3 FY25 as compared to 12.9% in Q3 FY24 and 12.5% in Q2 FY25.

Manoj Raghavan, CEO and managing director of Tata Elxsi, said, “We continue to see positive outcomes of our strategic business focus on Japan, emerging markets, and capitalizing on the India opportunity. During the quarter, our revenue from India has grown by 21.9% YoY, while Japan and emerging markets grew at 66.8% YoY. This will serve us well over the next few quarters even as we navigate geopolitical uncertainty, currency volatility, and industry-specific challenges in Europe and the US.

Amongst the verticals, transportation business growth was 0.5% QoQ in constant currency terms, while media and communication business grew by 0.4% QoQ in constant currency terms. Our Healthcare & Lifesciences business reported growth of 1.1% QoQ in constant currency terms. We continue to win new marquee healthcare customers, and our Gen AI-powered regulatory, digital engineering, and sustainability offerings are seeing significant traction in the market.

Our Media & Communication business reported QoQ CC growth in a quarter that is typically soft and affected by furloughs. We are positioned well to help customers in the media, entertainment, and telecom industries on all three levers of growth, efficiency, and innovation. We won a large multi-year deal with a US-headquartered MSO to develop and manage their portfolio of applications and expect to ramp this up over the next few quarters. We are positioned well in some very large deals across the world, with decisions and outcomes expected in the coming quarter and beyond.

Our Healthcare & Lifesciences business reported growth of 1.1% QoQ. We continue to win new marquee healthcare customers, and our Gen AI-powered regulatory, digital engineering, and sustainability offerings are seeing significant traction in the market.

We are delighted to be launching our AVENIR SDV software suite at the CES 2025 Conference in Las Vegas, the premier global showcase for technology innovation. AVENIR encompasses a cloud-native virtual development platform and a hybrid global validation platform and is powered by the Snapdragon Digital Chassis platform in partnership with Qualcomm.

We step into the fourth quarter of this financial year with the confidence of large automotive deal wins in the year and quarter that will see continued ramp-ups even as we navigate the current volatility in the automotive market, the stability and return to growth in our healthcare and media & communications verticals, and large strategic deals in the pipeline across all our key verticals.”

Tata Elxsi is among the world's leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare, and transportation.