Tata Technologies Q2 Profit Down 1.85%, Revenue Up

New Delhi, Oct 28 (PTI) Tata Technologies Ltd on Monday reported a 1.85 per cent decline in consolidated profit after tax at Rs 157.41 crore in the first quarter ended September 30, 2024.

The company had posted a consolidated profit after tax of Rs 160.38 crore in the corresponding period last fiscal, Tata Technologies Ltd (TTL) said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 1,296.45 crore as against Rs 1,269.17 crore in the year-ago period, it added.

Total expenses were marginally higher at Rs 1,095.40 crore as compared to Rs 1,085.74 crore in the same period last fiscal, the company said.

"Our Services business has returned to sequential growth this quarter with a 2 per cent increase in revenue," TTL CEO and Managing Director Warren Harris said.

On the outlook, he said, "Our order book and pipeline remain healthy and combined with the continued positive momentum within our anchor accounts, we are confident that the second half of the fiscal year will show a stronger performance compared to the first half. The long-term fundamentals of our business remain sound."

In a separate filing, the company said it is collaborating with Air India to transform the latter's aircraft interiors for delivering an enhanced travel experience.

Tata Technologies will provide end-to-end solutions, from design and validation to weight optimisation and ergonomic considerations, it added.