Tejas Networks Q4 Net Profit Up 9.2% At Rs 35.89 Crore

Domestic telecom gear maker Tejas Networks posted 9.2 percent increase in consolidated net profit for January-March 2019 quarter at Rs 35.89 crore on account of sales growth in international business and to local private sector players. The company had posted a net profit of Rs 32.84 crore in the year-ago period.

The company’s total income for the quarter ended March jumped to Rs 280 crore from Rs 112.19 crore in the corresponding quarter of the previous fiscal.

For the year ended March 31, 2019, Tejas Networks posted 38 percent increase in consolidated net profit at Rs 147.24 crore as compared with Rs 106.32 crore in 2017-18.

“We witnessed high fluctuation in quarter-on-quarter business. However, the performance was extremely satisfying in the fourth quarter and the year overall. It was mainly on account of international sales going up by 70 percent and non-government revenue increasing by 33 percent on a year-on-year basis,” Tejas Networks Managing Director and CEO Sanjay Nayak told PTI.

The company reported 18 percent increase in total income at Rs 937.01 crore for 2018-19 from Rs 795.27 crore in 2017-18.

The share of international sales grew to 21 percent from 18 percent on a year-on-year basis with sales increasing in South East Asia, Mexico and Africa, Nayak said.

Back at home, share of sales to private sector increased to 45 percent in 2018-19 from 40 percent in the previous fiscal, Nayak said.

Shares of Tejas Networks on Monday closed up 1.79 percent at Rs 186.4 apiece on the BSE.―Money Control