Tejas Networks shares surge 15% on Q4 profit spike, hit record.

Post by: Raman Preet

Tejas Networks, a Tata Group backed company, witnessed a remarkable turnaround in Q4FY24, achieving profitability after nine consecutive quarters of net losses. The company reported a net profit of ₹147 crore for the quarter ending in March, a significant improvement compared to previous periods. Revenue from operations soared to ₹1,171 crore, reflecting a remarkable 343% year-on-year increase.

This stellar performance resonated strongly with investors, driving a 15.5% surge in Tejas Networks' shares in early morning trade. The stock hit a new all-time high of ₹1,046.95 apiece, building upon a 17% rally in the previous trading session. The market response underscored confidence in the company's growth trajectory following the release of its robust Q4FY24 results.

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For the full fiscal year FY24, Tejas Networks reported a net profit of ₹63 crore, a significant turnaround from net losses reported in previous fiscal years. Revenue from operations for FY24 surged by 168% year-on-year to ₹2,471 crore, indicating strong business momentum and growth prospects.

The company's order book stood at ₹8,221 crore at the close of FY24, reflecting robust demand for its networking products and solutions. Tejas Networks highlighted progress in the installation of 4G/5G RAN for BSNL’s nationwide network, with equipment shipped to over 10,000 sites. Additionally, strategic agreements with Telecom Egypt and other entities underscored the company's expanding footprint and global reach.

Tejas Networks also secured significant wins for DWDM and switching and routing products in the critical infrastructure sector, further enhancing its market position and revenue streams. The company received incentives under the PLI Scheme for Telecom and Networking Products and saw Saankhya Labs approved under the semiconductor DLI scheme.

As part of the Tata Group, Tejas Networks designs and manufactures high-performance wireline and wireless networking products for a diverse range of clients across telecommunications, internet services, utilities, defense, and government sectors, operating in over 75 countries.

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