Tejas Networks announces consolidated results for quarter ended December 31, 2021
Bengaluru, January 19, 2022: Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the third quarter ended December 31, 2021. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.
For Q3-FY22, consolidated net revenue was Rs. 107 crore, which was a YoY decrease of 17.1%, resulting in a loss before tax of Rs. 32.9 crore as compared to a profit of Rs. 9.2 crore, for corresponding previous period. Loss after tax was Rs. 24.3 crore as compared to profit of Rs. 9.2 crore for corresponding previous period.
For the 9 months ended December 31, 2021, net revenue was Rs. 424.1 crore, which was a YoY increase of 35.4%, resulting in a loss after tax of Rs. 13.1 crore, as compared to a profit of Rs. 4.0 crore for corresponding previous period.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Our Q3 revenues were low as we could not fulfill customer orders due to ongoing global semiconductor component shortage. However, our medium to long-term business momentum continues to be in our favour, as we saw strong Q3 order inflow of Rs. 311 crore, increasing our total order book to an all-time high of Rs. 986 crores. We continue to take proactive measures to address the ongoing semiconductor component shortage challenges.”
During the quarter, we were also certified as a “Trusted Source” for telecom equipment by Government of India.
Mr. Venkatesh Gadiyar, CFO said, “During Q3, we saw margin pressure due to increase in component prices and lower international revenues. In addition, our inventory levels increased, since many orders could not be fulfilled due to shortage of certain critical components. Our cash position continues to be healthy and as on December 31, 2021 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were Rs. 1,175 crores and we continue to be a debt-free Company”.
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About Tejas Networks Limited
Tejas Networks designs, develops and sells high-performance telecom and networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas products utilize programmable, software-defined hardware architecture with a common software code-base that delivers seamless upgrades of new features and technology standards.
For more information, visit Tejas Networks at http://www.tejasnetworks.com or contact
Investor Relations: ir@india.tejasnetworks.com
Attn: Mr. Santosh Kesavan: skeshavan@india.tejasnetworks.com
Phone: +91 80 41794600
SAFE HARBOUR
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the industry in which the Company operates. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.