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Tejas Networks slumps after dismal Q2

Capital Market 

Tejas Networks was locked in a lower circuit of 5% at Rs 444.1 after the company posted a 19.2% drop in consolidated net profit to Rs 3.66 crore in Q2 FY22 as compared to a net profit of Rs 4.53 crore posted in Q2 FY21.

Revenue from operations increased by 57% to Rs 172.78 crore in Q2 FY22 over Q2 FY21. The profit before stood at Rs 3.33 crore in Q2 FY22, 26.5% lower than Rs 4.53 crore in Q2 FY22 over Q2 FY21. Profitability was impacted after total expenses spiked 52.7% to Rs 173.62 crore in Q2 FY22 over Q2 FY21.

The company's order book increased to Rs 783 crore for the quarter ended September 2021. The company's cash and cash Equivalent stood at Rs 1,195 crore in Q2 FY22 including investment of Rs 837.5 crore from Panatone Finvest Ltd.

Tejas Networks designs, develops and sells high-performance networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, October 21 2021. 11:33 IST