(Reuters) -Indian engineering firm Tata Technologies reported a 5% rise in second-quarter profit on Friday, as growth in its non-automotive business cushioned weakness in its key auto-focused segment.
The firm, which provides engineering, product design and manufacturing digitalisation services to automotive clients, as well as to aerospace and industrial machinery firms, warned about near-term demand being tepid.
Engineering research and development firms like Tata Technologies, which depend heavily on outsourcing work from U.S. and European clients, have been under pressure as automotive clients cut back on investments and R&D spending reeling from the impact of U.S. tariffs, according to analysts.
Revenue from its bigger services segment, which makes up 77% of overall revenue, remain