Tata Elxsi Shares Fall for Second Straight Session Post Q2 Earnings

Tata Elxsi stock fell 8.52 percent to Rs 7,735 against the previous close of Rs 8,455.85 on BSE.

The scrip has lost 0.93 per cent or Rs 93 since Q1 earnings were announced on April 20 this year

Shares of Tata Elxsi fell over 8% today despite the firm announcing a strong set of Q2 earnings

The Tata Group firm reported a 39.1% rise in net profit at Rs 174.3 crore in Q2, up from a year-ago period of Rs 125.3 crore.

However, the earnings fell below market expectations. The scrip has lost 0.93% or Rs 93 since Q1 earnings were announced on April 20 this year. The stock closed at Rs 7,808 on April 20.

Total 0.68 lakh shares of the firm changed hands amounting to a turnover of Rs 58.38 crore on BSE.

The market cap of the firm fell to Rs 48,669 crore on BSE. The stock hit  its all-time high of Rs 10,760 on August 17, 2022 and a 52 week low of  Rs 5,264.75 on November 29, 2021.

The firm reported a 28.2%, year-on-year (YoY), rise in its revenue from operations at Rs 763.2 crore.

The employee strength crossed the 11,000 mark during Q2 with 1,532 net additions. Tata Elxsi's earnings per share (EPS) grew 39% to Rs 27.98.