Conference Call with Tejas Networks Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
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