TATAELXSI

- Results update for Q3 - Dec 2025

- Results update for Q3 - Dec 2025 On the earnings front, constant currency revenue rose 3.2% sequentially, ahead of estimates of 2.7%, while EBITDA margin improved to 23.3% from 21.05%. Reported PAT declined 29% QoQ and 44% YoY due to an exceptional charge of ₹95.8 crore. Profitability, however, was hit by an exceptional loss linked to the new labour code. For Q3FY26, revenue came in at ₹953.5 crore, up 3.9% QoQ and 1.5% YoY. CC revenue grew 3.2% QoQ but declined 5.5% YoY. Adjusted PAT stood at ₹179.1 crore, rising 15.7% QoQ but falling 10% YoY. Management said it remains optimistic about delivering incremental growth in the fourth quarter and sees further margin upside driven by initiatives to improve utilisation and operational efficiencies, even as decision making cycles remain slow and more calculated. All this is for information. This is not a buy/sell recommendation. Thank you, Technofunda24