Tata Technologies, a Tata group company, is technical services provider in multiple industries like engineering and design, product lifecycle management, manufacturing, product development, automotive, and aerospace among others.
Tata Technologies has reported a 120 percent rise in the profit after tax (PAT) to Rs 154.6 crore for the quarter ended on December 31, 2021, as against a profit of Rs 70.2 crore in the corresponding period previous fiscal.
On a sequential basis, the company has reported a 49 percent jump in the net profit, which was Rs 103.7 crore for the period ended in September 2021.
Founded in 1989, Tata Technologies is a subsidiary of Tata Motors, which primarily operates in North America, Europe, the Middle East, and the Asia Pacific region.
Tata Technologies is one of the best available electric vehicles (EV) plays in the listed and unlisted space. Ii is driving towards strong revenue generation in the current fiscal to be back on the growth track via new business opportunities.
The total revenue from the operations jumped more than 60 percent to Rs 1,042.3 crore in December 2021 quarter as against an income of Rs 650.2 crore clocked in the December 2020 quarter.
The company's income jumped 16 percent from Rs 897.8 crore on a sequential basis, compared to the September 2021 quarter.
On an operational basis, the company reported a profit before taxes (PBT) of Rs 201 crore in Q3 FY22, 115 percent higher than the 93.5 crores in the Q3 FY21 and almost 40 percent higher than Q2 FY22.
In August 2005, Tata Technologies acquired INCAT International, a UK-and US-based automotive and aerospace puter engineering company for £53.4 million. INCAT was established in 1989.
Tata Technologies reported a 135 percent growth in the bottom line to Rs 330.7 crore for the nine months ended December 2021, compared to Rs 141.1 in the same period previous fiscal.
Its total income advanced more than 51 percent to Rs 2,647.6 crore from Rs 1,749.3 crore during the period under review.
In October 2021, Tata Motors' engineering arm had bagged new orders worth $100 million (750 crores). At the current pace, the company is poised to achieve its revenue target of Rs 3,600 crore.
Tata Technologies is headquartered in Singapore, with regional offices in the United States (Novi, Michigan), India (Pune), and the UK (Warwick) with a combined global workforce of more than 8,500 employees serving clients worldwide.
For the financial year 2020-21, Tata Technologies had posted a net profit of Rs 239.2 crore with a total income of Rs 2,425.7 crore.
The technology company claims to have seen a strong uptick in the various segments like the embedded technology business segment, even in the pandemic.
Tata technologies have been partnering with automakers from India, China, the US, Japan, and Sweden for more adoption. The company is bagging the majority of overseas orders from four-wheeler OEMs, it is eyeing two-wheeler OEM's too.
Tata Technologies' mechatronics has enabled infotainment integration and validation for a premium European luxury carmaker.