Tejas Networks has reported its financial results for the first quarter (Q1) ended June 30, 2024. For Q1 of the financial year 2024-25 (FY25), consolidated net revenue was Rs 15.63 billion, which was a year-on-year (YoY) increase of 731 per cent, resulting in a profit before tax (PBT) of Rs 1.22 billion as compared to a loss before tax of Rs 0.66 billion, for corresponding previous period. Meanwhile, profit after tax (PAT) was Rs 0.77 billion as compared to loss after tax of Rs 0.26 billion for corresponding previous period.
Further, in Q1 FY25, the company has continued a strong quarter-on-quarter (QoQ) and YoY growth with a revenue of 15.63 billion. The quarter ended with an order book of Rs. 70.91 billion and a net profit of Rs. 0.77 billion. There was an increase investment in research and development (R&D) and operations which is important for long term growth and value creation. Moreover, the merger of Saankhya Labs with Tejas Networks is in an advanced stage and the National Company Law Appellate Tribunal (NCLT) has reserved the matter for orders.
Commenting on the development, Anand Athreya, managing director and chief executive officer (CEO), Tejas Networks, said, “In Q1 FY25 we significantly scaled up our wireless manufacturing capacity and deliveries, leading to approximately 27,000 sites shipped cumulatively. In this quarter, we also made releases for new radios in additional 4G bands, for production in Q2. Our wireline business was mainly driven by shipments to our run-rate customers for gigabyte passive optical network (GPON) and dense wavelength-division multiplexing (DWDM) equipment, both in India and globally. We also won strategic deals with an operator in the US for network modernisation, and a leading operator in Southeast Asia for broadband rollout.”
