Tata Elxsi’s TEcare to help accelerate development of India Neurodiversity Platform
Upstox
2 min read • Updated: April 30, 2024, 1:28 PM
Summary
TEcare simplifies the process of preventing, diagnosing, treating, and managing patients’ medical conditions holistically, Tata Elxsi said. It accelerates healthcare solutions with its built-in features and also provides healthcare professionals with access to a wealth of patient data points, enhancing their decision-making capabilities, the company stated.
Tata Elxsi said in an exchange filing on Monday that the Tata Power Community Development Trust (TPCDT) has partnered with the firm to drive their "Pay Autention" initiative forward. TPCDT aims to accelerate the development of the India Neurodiversity Platform using TEcare which is Tata Elxsi’s digital therapeutics (DTx) solution.
TEcare simplifies the process of preventing, diagnosing, treating, and managing patients’ medical conditions holistically, Tata Elxsi said. It accelerates healthcare solutions with its built-in features and also provides healthcare professionals with access to a wealth of patient data points, enhancing their decision-making capabilities, the company stated.
Tata Elxsi provides design and technology services across industries including automotive, broadcast, communications, healthcare, and transportation.
The firm had reported an 8.1% year-on-year (YoY) rise in its fourth quarter operating revenue at ₹905.9 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 4.7% YoY to ₹261.2 crore. EBITDA margin fell to 28.8% during the quarter compared to 29.5% in the same period a year ago. Net profit fell 2.3% YoY to ₹196.9 crore.
For the fiscal year 2024, Tata Elxsi reported 13% YoY growth in its operating revenue at ₹3552.10 crore. EBITDA rose 8.9% YoY to ₹1,046.4 crore. Net profit rose 4.9% to ₹792.2 crore. EBITDA margin for the fiscal fell to 29.5% as compared to 30.6% a year ago.
The transportation segment witnessed a growth of 20.4% YoY in constant currency terms, aided by large deals and sustained traction in software-defined vehicles, the company said. The healthcare segment grew at 7.6% YoY, driven by new product engineering and regulatory services while the media and communications segment saw a decline of 2.6% YoY, amidst a challenging industry environment, the company stated.
Shares of the company lost over 18% since the beginning of the year. The stock has gained over 7% in the last one year.