{"id":26414,"date":"2024-07-18T10:19:00","date_gmt":"2024-07-18T10:19:00","guid":{"rendered":"https:\/\/webttldev.tatatechnologies.com\/uncategorized-us\/tata-technologies-delivers-resilient-q1-performance\/"},"modified":"2024-07-18T10:19:00","modified_gmt":"2024-07-18T10:19:00","slug":"tata-technologies-delivers-resilient-q1-performance","status":"publish","type":"post","link":"https:\/\/webttldev.tatatechnologies.com\/us\/newsroom\/tata-technologies-delivers-resilient-q1-performance\/","title":{"rendered":"Tata Technologies delivers resilient Q1 performance"},"content":{"rendered":"\n<div class=\"wp-block-create-block-copy-block-two py-5\"><div class=\"container px-6\"><svg class=\"w-full mb-7\" version=\"1.2\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"1536\" height=\"10\"><defs><clipPath clipPathUnits=\"userSpaceOnUse\" id=\"cp1\"><path d=\"M0-1h1919.71v12.66H0z\"><\/path><\/clipPath><\/defs><g id=\"Clip-Path\" clip-path=\"url(#cp1)\"><g id=\"Layer\"><path class=\"text-purple 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11.5l4.7-12.3M1402.5 11.5l4.7-12.3M1409.5 11.5l4.7-12.3M1416.5 11.5l4.7-12.3M1423.5 11.5l4.7-12.3M1430.5 11.5l4.7-12.3M1437.5 11.5l4.7-12.3M1444.5 11.5l4.7-12.3M1451.5 11.5l4.7-12.3M1458.5 11.5l4.7-12.3M1465.5 11.5l4.7-12.3M1472.5 11.5l4.7-12.3M1479.5 11.5l4.7-12.3M1486.5 11.5l4.7-12.3M1493.5 11.5l4.7-12.3M1500.5 11.5l4.7-12.3M1507.5 11.5l4.7-12.3M1514.5 11.5l4.7-12.3M1521.5 11.5l4.7-12.3M1528.5 11.5l4.7-12.3M1535.5 11.5l4.7-12.3\" style=\"stroke:#350FA2\"><\/path><\/g><\/g><\/svg><div class=\"copy-block-two md:grid grid-cols-1 md:grid-cols-2 mb-7\"><h3 class=\"font-header text-4xl md:text-5xl pb-5 -mt-1 text-primary pr-5\">Press release<\/h3><div><div class=\"copy-block-two-blurb text-lg\"><p><strong>Pune, India: 18<sup>th<\/sup> July 2024:<\/strong> Tata Technologies Limited (BSE: 544028, NSE: TATATECH), a leading global engineering services company, announced the financial results for the quarter ended June 30, 2024.<\/p><p><strong>Key highlights for the quarter that ended on 30<sup>th<\/sup> June 2024:<\/strong><\/p><p>\u2022 Total operating revenue at \u20b912,690 million, up 0.9% YoY and down 2.5% QoQ.<br>\u2022 Services segment revenue of \u20b99,855 million, a decline of 1.0% QoQ.<br>\u2022 Operating EBITDA at \u20b92,311 million; EBITDA margin at 18.2%, vs. 18.4% QoQ.<br>\u2022 Net income at \u20b91,620 million, up 3.1% QoQ.<br>\u2022 70 bps sequential improvement in net income margin to 12.8%.<br>\u2022 80 bps sequential improvement in [LTM] attrition to 13.7%.<br>\u2022 Five strategic deal wins across automotive and aerospace.<\/p><p><strong>Warren Harris, Chief Executive Officer and Managing Director said, <\/strong>\u201cThe 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. 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. Confidence in our full-year prospects is fuelled by our order book, continued positive momentum within our Anchor accounts, and tailwinds that we expect to continue to intersect with across automotive, aerospace, and industrial heavy machinery. \u201c<\/p><p><strong>Savitha Balachandran, Chief Financial Officer, said: <\/strong>\u201cOur margins have remained resilient during the quarter, reflecting our strong operating discipline. We are committed to strategically investing in key growth areas while optimising costs and improving efficiency across the organisation. Our robust cash flow management and efficient collections process remain priorities. By focusing on sustainable growth and value creation, we are confident in our ability to stay competitive and achieve long-term success.&#8221;<\/p><p><strong>Key highlights and recognitions:<\/strong><\/p><p>\u2022 A global EV battery manufacturer has selected Tata Technologies to deliver the first battery design and development program for a client\u2019s EV engagement.<\/p><p>\u2022 Tata Technologies has been selected by a leading commercial vehicle OEM as their SDV technology partner for the development of a middleware stack. This strategic engagement will focus on building the foundational elements of the SDV framework, from concept to production.<\/p><p>\u2022 Tata Technologies has won an engagement with a leading North American commercial vehicle manufacturer to develop end-to-end cabin design and closures.<\/p><p>\u2022 Tata Technologies has signed a multi-year engagement with a European Tier One aerospace company to develop business and first-class aircraft seats.<\/p><p>\u2022 A European luxury Automotive OEM has selected Tata Technologies for developing a cloud-based holistic virtual platform environment for future SoC \/ MCU Hardware architectures.<\/p><p>\u2022 Tata Technologies won the B2B Industry brand award at the ET Brand Equity ET Shark Awards 2024 for its #EngineeringDiversity \u2013 Engineering better lives campaign.<\/p><p><strong>About Tata Technologies:<\/strong><\/p><p>Tata Technologies (<a href=\"https:\/\/www.bseindia.com\/stock-share-price\/tata-technologies-ltd\/tatatech\/544028\/\">BSE<\/a>: 544028, <a href=\"https:\/\/www.nseindia.com\/get-quotes\/equity?symbol=TATATECH\">NSE<\/a>: TATATECH) is a global product engineering and digital services company focused on fulfilling our mission of helping the world drive, fly, build, and farm by enabling our customers to realise better products and deliver better experiences. We are the strategic engineering partner businesses turn to when they aspire to be better. Manufacturing companies rely on us to enable them to conceptualise, develop, and realise better products that are safer and cleaner and improve the quality of life for all the stakeholders, helping us achieve our vision of #EngineeringABetterWorld. For more, visit us at <a href=\"https:\/\/www.tatatechnologies.com\/\">https:\/\/www.tatatechnologies.com<\/a>\/ or learn more <a href=\"https:\/\/www.tatatechnologies.com\/in\/about-us\/\">here<\/a>. Follow us on <a href=\"https:\/\/www.instagram.com\/tatatechnologies\/\">Instagram<\/a>, <a href=\"https:\/\/www.linkedin.com\/company\/tata-technologies\/\">LinkedIn<\/a>, <a href=\"https:\/\/twitter.com\/TataTech_News\">Twitter<\/a>, <a href=\"https:\/\/www.facebook.com\/TataTechnologies\">Facebook<\/a> and <a href=\"https:\/\/www.youtube.com\/user\/tatatechnologies\">YouTube<\/a> for the latest updates.<\/p><p><strong>Investor relations contact:<\/strong><\/p><p>Vijay Lohia &#8211; <a href=\"mailto:ir@tatatechnologies.com\">ir@tatatechnologies.com<\/a><\/p><p><strong><strong>Tata Technologies Media Contacts<\/strong>:<\/strong><\/p><p>Priyanka Bhatia (<a href=\"tel:+91 91679 31934\">+91 91679 31934<\/a>, <a href=\"mailto:priyanka.bhatia@adfactorspr.com\" data-type=\"mailto\" data-id=\"mailto:priyanka.bhatia@adfactorspr.com\">Priyanka.Bhatia@adfactorspr.com<\/a>),<br>Parikshit Joshi (<a href=\"tel:+91 98339 17030\">+91 98339 17030<\/a>, <a href=\"mailto:parikshit.joshi@adfactorspr.com\">Parikshit.Joshi@adfactorspr.com<\/a>)<\/p><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":32,"featured_media":22474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[146],"tags":[],"class_list":["post-26414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsroom"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - 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