Tejas Networks hit an upper circuit of 5% at Rs 137.45 after the company said that it has received a purchase order amounting to $13 million from a leading telecommunications service provider in South East Asia.
As per the contract, Tejas Networks will supply and install its TJ1400 ultra-converged broadband products (TJ1400UCB) to extend high-speed broadband services to underserved rural communities in the region. The project is expected to be executed within the next 12 months, the company said in a statement issued before trading hours today, 31 December 2020.
On a consolidated basis, Tejas Networks reported a net profit of Rs 4.53 crore in Q2 September 2020 as against net loss of Rs 4.38 crore in Q2 September 2019. Net sales surged 25.9% to Rs 110.06 crore in Q2 September 2020 over Q2 September 2019.
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries.
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