Info-tech

Tejas Networks registers ₹33.6 crore net profit in Q4

Our Bureau Bengaluru | Updated on April 21, 2021

The company had an order book of ₹679 crore during the year FY’21

Increased demand for high-speed broadband connections and robust international business helped Tejas Networks to report a ₹33.6 crore net profit in Q4 of FY21 on a year-on-year basis.

The company said its consolidated net revenues grew 282.6 per cent to ₹201.6 crore for the same quarter. For the corresponding period the previous year, Tejas Networks posted a loss after tax of ₹56.7 crore.

“We ended our financial year with strong revenue as well as profitability growth in Q4 of 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 ₹679 crore," Sanjay Nayak, Managing Director and CEO of Tejas Networks said,

“Our quarterly financial performance continues to improve, as we generated cash of ₹47 crore and ₹158 crore 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 ₹29 crore to ₹364 crore as on March 31, 2021 and we continue to be a debt-free Company," Venkatesh Gadiyar, CFO said,

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

Tejas Networks designs, develops, manufactures and sells high-performance optical and data networking products, which are used to build high-speed communication networks.

Published on April 21, 2021

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