Shares of Tata Technologies were up on Tuesday despite the automotive and aerospace engineering firm missing second-quarter estimates.

What Happened: Tata Technologies reported a 2.85% quarter-on-quarter decline in net profit to ₹157.41 crore in the September quarter. The Tata Group company's revenue jumped from the June quarter by 2.16% to ₹1296.45 crore.

On a year-on-year basis, the net profit was down 1.85% from ₹160.38 crore in the previous year while revenue was up 2.14% from ₹1,269.17 crore.

In the June quarter, Tata Technologies reported a ₹162.03 crore net profit and ₹1268.97 crore revenue.

The results missed Kotak Institutional Equities' estimates of a ₹171.7 crore net profit and ₹1,325.80 crore revenue.

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Sister Deal: Tata Group-owned Air India has engaged Tata Technologies to revamp its aircraft interiors, focusing on design improvements, weight optimisation and the integration of advanced materials to enhance passenger experience, the latter said on Monday.

This collaboration will bring Tata Technologies' aerospace engineering expertise to support Air India in creating a futuristic, streamlined cabin environment, according to the firm.

Price Action: Tata Tech’s share price was up 0.33% at ₹1,002.80 in early trade on Tuesday. The stock has lost 15% in value so far this year.

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