Tata Elxsi hits fresh high, Alok Industries surge over 6%, L&T Technology slips 8%—how shares fared post q3fy22 result

Shares of Tata Elxsi traded on a new 52-week high value, Alok Industries' stocks surged over 6 per cent, while L&T Technology Services declined in Wednesday's intraday trade on the BSE, a day after these companies posted q3fy22 results on Tuesday.  

Shares of Tata Elxsi surged over 7 per cent to hit new 52-week high of Rs 6,859.35 per share on the BSE. At 10.30 am, shares of this IT software products maker were trading with gains of Rs 420.70 or higher by 6.60% to Rs 6791.20 per share on the BSE. 

See Zee Business Live TV Streaming Below:

Tata Elxsi, a design and technology services provider, has reported a 121% QoQ rise in the consolidated profit at Rs 151 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 125 crore in the previous quarter ended September 30, 2021. The company’s revenue from operations grew 7% YoY to Rs 635 crore as against Rs 595 crore posted in the previous quarter.  

Meanwhile, Alok Industries from textile space too gained over 6 per cent after narrowing down losses sharply in q3fy22. The textile company’s net loss came down to Rs 0.09 crore in the quarter ended December 31, 2021, as against a loss of Rs 35 crore posted in the corresponding quarter of last fiscal. Revenue from operations grew 77% to Rs 2,130 crore in the reported quarter as against Rs 1,202 crore posted last year. EBITDA grew 45% to Rs 199 crore as against Rs 137 crore posted last year.  

At 10.35 am, shares of Alok Industries were trading higher by over 5 per cent to Rs 33.75 per share on the BSE. The shares have touched Rs 34.65 as day's high in the early trade.  

Meanwhile, L&T Technology Services scrips declined as much as much as 8 per cent to Rs 4980.05 after the company reported an 8.3% QoQ rise in the consolidated profit at Rs 249 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 230 crore in the previous quarter ended September 30, 2021. The company’s revenue from operations grew 5% QoQ to Rs 1,688 crore against Rs 1,608 crore posted in the previous quarter. Its EBIT stood at Rs 314.4 crore, up 6.2% QoQ from Rs 296 crore posted in the previous quarter. 

Shares of L&T Technology Services were trading with loss of 382.45 (-7.05%) to Rs 5039.00 per share on the BSE despite posting good numbers in Q3fy22.