18 July 2024 Punjab Khabarnama : Tata Technologies has reported a net profit of Rs 162.03 crore for the June quarter of FY25, down 15.4 percent from the year-ago period.
Sequentially, the profit was marginally higher than Rs 157.24 crore in the March quarter, the Tata group company said in an after-market filing on July 18.
At Rs 1,268.97 crore the revenue was better than Rs 1,257.53 in the year-ago period but was down 2.46 percent over the March quarter.
“The overall market conditions remain favourable as the manufacturing sector continues to future-proof itself through ongoing investments in alternative propulsion systems, software-defined products and services, and smart manufacturing,” chief executive officer and managing director Warren Harris said.
“The VinFast transition is now largely behind us, and we fully expect the sequential revenue growth of our services business to accelerate from the current quarter.”
The confidence in full-year prospects is fuelled by the order book, continued positive momentum within anchor accounts, and tailwinds expected to continue to intersect with automotive, aerospace, and industrial heavy machinery, Harris said.
Tata Technologies closed 0.54 percent lower at Rs 1,009.75 ahead of the earnings announcement.