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Tata Elxsi share price down 8%. Why did it hit 52-week low after Q3 results?

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At 10:40 a.m., Tata Elxsi's share price was down 7% at Rs 5992.95. In early trade, the stock hit a 52-week low of Rs 5,924.
Tata Elxsi's share price experienced a significant drop of 8%, reaching a 52-week low following the announcement of its Q3 results. The decline was primarily due to the company reporting a lower-than-expected profit after tax (PAT) of Rs 189.1 crore, which was a 6% decrease from the previous year's Rs 201.9 crore. Despite a revenue increase of 13% year-over-year to Rs 914.2 crore, the EBITDA margin contracted by 200 basis points to 27.8%, influenced by higher employee costs and investments in new technology areas like AI and electric vehicles. Additionally, the company's transportation vertical, which is a significant revenue contributor, saw a slight revenue dip, further impacting investor confidence. The market's reaction was also influenced by concerns over the sustainability of growth in key sectors and the company's ability to manage rising costs effectively.

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