Tata Elxsi shares tanks over 5 percent despite announcing dividend of 70 rupees per equity share

Tata Elxsi Quarterly Results: Service provider company Tata Elxsi has announced a handsome dividend of 700 percent for its shareholders in its quarterly results. Along with this, the company has planned to provide jobs to a total of 1500-2000 engineers in the financial year 2024-25. According to the report of Moneycontrol, Tata Elxsi has revealed plans for a big hiring drive in its conference call.

What are the recruitment plans of Tata Elxsi?

Tata Elxsi said about its recruitment plans that “about 1500-2000 engineer freshers will be given place in the company in the financial year 2025. These hiring will be done based on the needs of the company and their timing. Let us tell you that in the financial year 2023. The company has hired 2135 freshers.

How were Tata Elxsi's fourth quarter results?

Tata Elxsi achieved a net profit of Rs 196.93 crore in the fourth quarter ended March. This has declined by 2.2 percent from the same period of the previous financial year. Tata Elxsi said in the information given to the stock market that the company had earned a net profit of Rs 201.51 crore in the same period of the last financial year.

Big fall in Tata Elxsi shares today

A big fall of Rs 384.20 or 5.20 percent is being seen in the shares of Tata Elxsi today and they have come down to Rs 7,011 per share. Shares of Tata Elxsi have fallen by 20 percent from their all-time high of 2023.

Other quarterly figures of Tata Elxsi

The operational income of Tata Elxsi in the quarter under review stood at Rs 905.94 crore, whereas it was Rs 837.91 crore in the same period a year ago. The company said that its total expenses increased to Rs 677.21 crore from Rs 613.39 crore in the same quarter a year ago. The net profit of the company for the entire financial year 2023-24 was Rs 792.23 crore. Earlier in the financial year 2022-23 it was Rs 755.19 crore. The company said that the income from operations in the financial year 2023-24 was Rs 3552.14 crore, which was Rs 3144.72 crore a year ago.

The company's board of directors has recommended a dividend of 700 percent for the financial year ending March 31, 2024. This is Rs 70 per equity share of face value Rs 10. This depends on the approval in the general meeting of the shareholders of the company.

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