Tejas Networks slumps on weak QoQ numbers

Shares of Tejas Networks tumbled 8.55% to Rs 1,003 on weak sequential numbers.

The company's consolidated net profit fell 39.80% to Rs 165.57 crore while net sales declined 5.95% to Rs 2642.24 crore in Q3FY25 over Q2FY25. Profit before tax (PBT) slipped 48.53% to Rs 211.27 crore in Q3FY over Q2FY25.

On a year-on-year basis, Tejas Networks reported a net profit of Rs 165.57 crore in Q3 FY25 as against net loss of Rs 44.87 crore posted in Q3 FY24. Revenue from operations soared 371.86% YoY to Rs 2642.24 crore in Q3 December 2024 over Q3 December 2023. PBT stood at Rs 211.27 crore in Q3 FY25 as against a pre-tax loss of Rs 48.77 crore in Q3 FY24.

The company's order book at the end of Q3 FY25 stood at Rs 2,681 crore, well below the last five-quarter average of about Rs 7,700 crore.

Meanwhile, Tejas Networks said it appointed Sanjay Malik, a telecom industry veteran and former India country head of Nokia, as its executive vice president and chief strategy and business officer.

Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, and defence and government entities in over 75 countries. Tejas Networks is a part of the Tata Group, with Panatone Finvest (a subsidiary of Tata Sons) being the majority shareholder.

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