Tejas Networks gains on bagging multi-year contract

Tejas Networks rose 2.15% to Rs 139.90 after the company announced that it has signed a multi-year contract with Asia Consultancy Group (ACG) to provide telecommunications infrastructure, managed & engineering services across Afghanistan.

ACG, with its headquarters in USA, is a full life-cycle managed network service provider in Afghanistan for last many years. As part of this contract, Tejas Networks will supply its state of the art 100G - 600G capable DWDM/OTN and PTN products to establish a high-capacity national backbone and packet access network in Afghanistan. The announcement was made before trading hours today, 27 January 2021.

Tejas Networks reported a consolidated net profit of Rs 9.23 crore in Q3 FY21 as against a net loss of Rs 112.06 crore in Q3 FY20. Net sales jumped 55.6% year-on-year (Y-o-Y) to Rs 134.88 crore during the quarter.

Tejas Networks designs, develops and sells networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. The company is ranked among top-10 suppliers in the global optical aggregation segment and has filed 349 patents.

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