Tejas Networks has reported its financial results for the fourth quarter ended March 31, 2021. For Q4-FY21, the company’s consolidated net revenue stood at Rs 2.01 billion, registering a YoY increase of 282.6 per cent*, resulting in a profit before tax of Rs 185 million as compared to a loss before tax and before impairment of intangible assets of Rs 567 million, for corresponding previous period. Profit after tax stood at Rs 336 million as compared to loss after tax and before impairment of intangible asset of Rs 567 million for corresponding previous period.

For the year ended March 31, 2021, net revenue stood at Rs 5.14 billion, which was a YoY increase of 35.6 per cent, with a profit before tax of Rs 225 million as compared to a loss before tax and before impairment of intangibles was Rs 687 million for corresponding previous period. Profit after tax was Rs 375 million as compared to a loss after tax and before impairment of intangible asset of Rs 1.67 billion for corresponding previous period.

Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We ended our financial year with strong revenue as well as profitability growth in Q4-FY21. Our international business during the year saw a robust YoY revenue growth of 62 per cent and was 40 per cent of our total revenue (up from 33 per cent during FY20), led by customers in Africa, Mid-east and South-East Asia. We are seeing positive tailwinds for our business in India due to increased demand for high- speed broadband connections and Government policy for promoting domestic telecom equipment. We continued to see strong order inflows as well as new customer wins, resulting in a YoY booking growth of 54 per cent and we ended the year with an order book of Rs 6.79 billion.”

Venkatesh Gadiyar, CFO stated, “Our quarterly financial performance continues to improve, as we generated cash of Rs 470 million and Rs 1.58 billion from operations during Q4-FY21 and full FY21 respectively. We also improved our working capital, with reduction in inventory levels as well as receivables. During the quarter, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, improved by Rs 290 million to Rs 3.64 billion as on March 31, 2021 and we continue to be a debt-free Company.”

As on date, Tejas has filed for 349 patents of which 127 have been granted.

* Q4 FY-20 was an exception