Telecom Services company Tejas Networks announced Q3FY24 & 9MFY24 results: Q3FY24 Revenue: Tejas Networks reported a revenue of Rs 560 crore in Q3FY24, which represents a significant increase of 104% compared to Rs 274.6 crore in Q3FY23. Q3FY24 Net Loss: The company experienced a net loss of Rs 44.9 crore in Q3FY24, whereas the net loss in Q3FY23 was Rs 15.2 crore. 9MFY24 Revenue: For the nine months ended December 31, 2023, the revenue stood at Rs 1,144 crore, marking an increase of 84% over Rs 620.3 crore in 9MFY23. 9MFY24 Net Loss: Tejas Networks' net loss for the nine months ended December 31, 2023, was Rs 83.8 crore compared to a net loss of Rs 25.0 crore in the same period the previous year. Total Comprehensive Income/(Loss) for Q3FY24: The total comprehensive loss for Q3FY24 was Rs 49.17 crore. Cash and Cash Equivalents: As of December 31, 2023, the company reported having cash and cash equivalents including investments, at Rs 559 crore. Order Book: The company disclosed a strong order book valued at Rs 9,028 crore. Anand Athreya, Managing Director and CEO of Tejas Networks, expressed his views on the quarter's performance, saying, "In Q3FY24 we had a strong revenue growth. We ramped up shipments for BSNL's 4G network - both RAN equipment and IP/MPLS routers for the backhaul network. A notable highlight has been our subsidiary, Saankhya Lab's strategic win for the deployment of its two-way Satcom Xponders for communication and support system on marine fishing vessels." Adding to the financial insights, Sumit Dhingra, CFO of Tejas Networks, commented, “Our consolidated Revenue for Q3FY24 was Rs 560 crore which is more than double the revenue of Q3FY23. We continue to make investments to ramp up our R&D; team and operations which are essential to deliver the growth potential of the company. Our net loss for the quarter was Rs 45 crore. We have a strong order book of Rs 9,028 crore." Result PDF
Telecom services company Tejas Networks announced Q2FY24 results: 1. Financial Performance: - Q2 net revenue increased by 80% YoY to Rs 396 Cr. - Loss after tax in Q2 was Rs 13 Cr. - Cash and cash equivalents at the end of Q2 stood at Rs 1,371 Cr. - Order book at the end of Q2 reached a record high of Rs 9,271 Cr. 2. Business Updates: - Tejas Networks won a prestigious order worth Rs 7,492 Cr from TCS to supply 4G/5G RAN equipment for BSNL's pan-India network. Shipment of 1000+ sites has already taken place. - Tejas Networks launched broadband services in Italy through its FiberConnect product portfolio. - The company was selected as a GPON OLT/ONT supplier by two leading regional ISPs in India. - Tejas Networks was chosen for the backbone network of a leading Media and Entertainment company in the US. 3. Awards and Recognition: - Tejas Networks was conferred with the 2023 Leading Lights award in the "Company of the Year (Public)" category, recognizing its technology expertise, strong balance sheet, long-term investment outlook, and customer relationships. - The number of patents granted to Tejas Networks increased to 282. 4. Financial Indicators: - Cash flow from operations in Q2FY24 was Rs (289) Cr. - Net worth stood at Rs 532 Cr. - Inventory increased to Rs 1,401 Cr. - Trade receivables at Rs 487 Cr. - Net working capital decreased by Rs 527 Cr. - Cash and cash equivalents, including investments in liquid mutual funds, bank balances, and others, amounted to Rs 1,371 Cr. 5. Revenue Breakdown: - H1FY24 revenue was Rs 584 Cr, with India Private contributing 48%, India Government contributing 29%, and International contributing 23%. - Critical Infrastructure accounted for 24% of H1FY24 revenue, BSNL/BBNL accounted for 8%, and other segments made up the remaining 68%. Result PDF
Conference Call with Tejas Networks Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.