Ramped up shipments and enhanced R&D mark strong Q3 for Tejas

Tejas Networks reported its financial results for the third quarter ended December 31, 2023. Tejas Networks designs, develops, manufactures and sells high-performance telecom and networking products, which are used to build high-speed communication networks.

Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q3-FY24 we had a strong revenue growth . We ramped up shipments for BSNL’s 4G network – both RAN equipment and IP/MPLS routers for the backhaul network. We have also deployed several strategic networks for Telcos and Utilities in India and global markets. A notable highlight has been our subsidiary, Saankhya Lab’s strategic win for deployment of its two-way Satcom Xponders for communication and support system on marine fishing vessels .

Sumit Dhingra, CFO said, “Our consolidated Revenue for Q3-FY24 was Rs. 560 crore – which is more than double the revenue of Q3-FY23. We continue to make investments to ramp up our R&D team and operations which are essential to deliver the growth potential of the company. Our net loss for the quarter was Rs. 45 crore. We have a strong order book of Rs. 9,028 crore. As on December 31, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs. 559 crore.”

CT Bureau