Domestic telecom gear maker Tejas Networks Ltd.'s net loss widens to Rs 211.3 crore in the fourth quarter of this financial year. This is in comparison to loss of Rs 71.8 crore in the same quarter of the previous fiscal, according to its stock exchange notification on Wednesday.
Revenue declined by 82.6% year-on-year for the three months ended March, reaching Rs 333 crore in comparison to Rs 1,907 crore. Operating income, or earnings before interest, taxes, depreciation, and amortization loss stood at Rs 118 crore. This is in comparison to profit of Rs 121 crore in the same quarter last year.
Tejas Networks Q4 Results Highlights (YoY)
- Net Loss at Rs 211.3 crore versus loss of Rs 71.8 crore.
- Revenue declines 82.6% at Rs 333 crore versus Rs 1,907 crore.
- Ebitda loss at Rs 118 crore versus Profit of Rs 121 crore.
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Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defense and government entities in over 75 countries. Tejas Networks is a part of the Tata Group, with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt. Ltd.) being the majority shareholder.
Tejas Networks Share Price Today
The shares of Tejas Networks closed 1.65% higher ahead of results at Rs 449.85 apiece. This compares to 1.63% rise in NSE Nifty 50. The stock rose 2.11% in the last one week and 6.2% in one month. The shares are down 0.46% year-to-date and 47.72% in the last one year.
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