Tejas Networks reported a consolidated net profit of Rs 146.78 crore in the quarter that ended in March 2024 from a net loss of Rs 11.47 crore in the previous year. The company saw growth in all product segments led by the wireless segment.
The telecom equipment company’s revenues gained 343 percent to Rs 1,326.88 crore from Rs 299.32 in the previous year in the results that was released after market hours.
The company’s Earnings Before Interest and Taxes (EBIT) surged 669 percent YoY to Rs 248 crore.
Order book stood at Rs 8,221 crore by the end of Q4. The India order book made up Rs 7,958 crore while international business consisted of Rs 263 crore.
The company said in the press release that it received Rs 32.66 crore incentive in FY 2022-23 under the Production Linked Incentive Scheme (PLI) for Telecom and Networking products.
Tejas Network’s inventory increased to Rs 3,738 crore in the quarter from Rs 2,683 crore in the previous year. The company said it secured “key Secured key long-lead components for expediting delivery of several Critical large orders–primarily BSNL 4G RAN”.
Shares of Tejas Networks surged 18.24 percent to Rs 917 on the NSE.
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