Tejas Network has announced its financial results for the quarter ended (QE) March 31, 2024. The consolidated revenue for the company stood at Rs 13.27 billion during the reported period, with year-over-year (YoY) growth of 343 per cent. Meanwhile, the company’s revenue for the financial year 2023-24 (FY24) stood at Rs 24.71 billion, with YoY growth of 168 per cent.
For the QE March 2024, the company reported a net profit of Rs 1.47 billion and for FY24, it was reported as Rs 630 million. The profit-before-tax (PBT) and profit-after-tax (PAT) for the company were reported to be Rs 2.32 billion and Rs 1.46 billion, respectively.
Commenting on the results, Anand Athreya, managing director and chief executive officer (CEO), Tejas Networks, said, “The fourth quarter (Q4) of FY24 has been a milestone quarter for the company. With our strong revenue growth, we have achieved the scale in our business that reflects in our profitability in line with the significant investments that we have made during FY24. We not only ramped up Bharat Sanchar Nigam Limited (BSNL)’s 4G/5G radio access network (RAN) shipments, but also completed the delivery of the large volume of internet protocol multi-protocol label switching (IP/MPLS) routers for the backhaul network. During Q4, we were granted 22 patents, taking our total patent count to 335.”
Meanwhile, Sumit Dhingra, chief financial officer (CFO), Tejas Networks, said, “Our consolidated revenue for Q4 FY24 and FY24 were significantly higher than the corresponding numbers in FY23. During FY24 we have made major investments to ramp up our research and development (R&D) team and operations which are essential to deliver the growth potential of the company. We completed FY24 with a net profit of Rs. 630 million, a strong order book of Rs. 82.21 billion.”
