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Q4FY24-Tejas Networks reports fourfold jump in revenue

Tejas Networks Ltd. reported a net profit in the fourth quarter of financial year 2024. Its revenue jumped over fourfold quarter-on-quarter to Rs 1,327 crore, while its order book stood at over Rs 8,200 crore, out of which Rs 7,900 crore came from India. The company’s profit stood at Rs 147 crore in the March quarter in comparison to a loss of Rs 2.5 crore.

In fiscal 2024, revenue more than doubled to Rs 2,471 crore, while profit surged nearly fourfold to Rs 63 crore. Its market capitalisation also rose 151% to Rs 18,577 crore.

Shares of the data networking products company hit an upper circuit of 20% to an all-time high of Rs 1,088.25 apiece on the NSE. The stock has risen 40% in the last five sessions and 71% in the last 12 months.

Business Outlook
The company has witnessed growth in all the segments and has secured the supply chain, the management said in a post-earnings call.

For the wireless segment, it shipped equipment for the 4G, 5G RAN in the BSNL network to more than 10,000 sites and the installations are progressing quite well. Its merger process with Saankhya is progressing well and the resolution was approved by the equity parameters of the company, it said.

Indian private clients contributed to 54% of the revenue, while 36% came from the Indian government and the balance 10% from international business. The company’s headcount grew 42%, mainly in research and development, manufacturing, sales and support departments.

Facilities were expanded for supporting growth in R&D and manufacturing operations, it said. The company also made major capex investments in R&D and manufacturing.

Beyond the overall market growth, the management is looking at several high-scale opportunities both in India as well as in international markets. NDTV Profit

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