Tejas Networks announces consolidated results for quarter ended March 31, 2022 Q4 revenue was Rs. 126.5 crore and FY 22 revenue was Rs. 550.6 crore Q4 loss was Rs. 49.6 crore and FY 22 loss was Rs. 62.7 crore
Bengaluru, April 22, 2022: Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the fourth quarter ended March 31, 2022. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.
For Q4-FY22, consolidated net revenue was Rs. 126.5 crore, which was a YoY decrease of 37.2%, resulting in a loss before tax of Rs. 95.9 crore as compared to a profit of Rs. 18.5 crore, for corresponding previous period. Loss after tax was Rs. 49.6 crore as compared to profit of Rs. 33.6 crore for corresponding previous period.
For FY 22, net revenue was Rs. 550.6 crore, which was a YoY increase of 6.9%, resulting in a loss after tax of Rs. 62.7 crore, as compared to a profit of Rs. 37.5 crore for corresponding previous period.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are disappointed that our Q4 revenues were below our expectations. This was due to the ongoing global chip supply shortages and despite our best efforts, we could not manufacture enough products to fulfil open orders. However, we continue to see a positive business momentum with strong Q4 order inflow of Rs. 316 crores, increasing our total order book to an all-time high of Rs. 1,175 crores. We have already taken advance inventory actions for securing components for our planned revenues for next 12 months and we believe that we will be able to effectively address the challenges of the ongoing semiconductor component shortages. We are also pleased that our 4G Radio Access Network (RAN) equipment, as a part of the indigenous 4G solution, has successfully passed the Proof-of-Concept field tests in the network of a large Indian telecom operator.”
Mr. Venkatesh Gadiyar, CFO said, “During Q4, we saw margin pressure due to increase in component prices and lower international revenues. Our cash position continues to be healthy and as on March 31, 2022 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were Rs. 1,102 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 wireline and wireless 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.
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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.