Tejas Networks announces highest ever quarterly revenue for Q2-FY24. Q2 24 revenue was Rs. 396.0 crore (YoY 80%) and H1 24 revenue was Rs. 583.8 crore (YoY 69%) Q2 24 Net Loss was Rs. 12.6 crore and H1 24 Net loss was Rs. 38.9 crore
Bengaluru, October 20, 2023: : Tejas Networks [BSE: 540595, NSE: TEJASNET] today reported its financial results for the second quarter ended September 30, 2023. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.
| Amount in Rs. cr | ||||
|---|---|---|---|---|
| Q2-FY24 | Q2-FY23 | H1-FY24 | H1-FY23 | |
| Net Revenue | 396.0 | 220.0 | 583.8 | 345.7 |
| PBT | (17.7) | 6.7 | (83.6) | (6.3) |
| PAT | (12.6) | (3.2) | (38.9) | (9.8) |
Mr. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q2-FY24 we achieved the highest ever quarterly revenue in our company. Based on strong order inflow across all product lines during the quarter, we also have our highest ever order book of Rs. 9,271 crore. As part of our long-term strategy, we continue to invest in scaling up R&D teams, addition of new facilities, and increasing manufacturing infrastructure to address the large upcoming shipments for BSNL 4G wireless equipment. The PAT loss for the quarter was on account of the increased investments and expedite fees for delayed components.”
Mr. Venkatesh Gadiyar, CFO said, “During the quarter, we have received the mobilization advance of Rs. 750 crore from TCS towards supply of RAN equipment for BSNL 4G/5G network. As on September 30, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 1,371 crore.”
As on September 30, 2023, Tejas and its subsidiaries have filed for 443 patents of which 282 have been granted.
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About Tejas Networks Limited
Tejas Networks Ltd. designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas Networks Ltd. is a part of the Tata Group, with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt. Ltd.) being the majority shareholder.
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.