Shares of Tejas Networks
hit 52-week low during afternoon session after the company reported a disappointing set of numbers in Q3FY19.
Revenue declined by 19.8% yoy to Rs184cr, a decline of 11% on qoq basis. EBITDA came in at Rs36cr, down 28.4% yoy and 18.6% qoq. EBITDA margin contracted by 236bps yoy and 184bps qoq to 19.7%. The company’s PAT stood at Rs33cr, up 9% yoy but down 1.9% qoq.
As per the management commentary, the revenues have been impacted on account of delay in orders from Indian Government tenders. Tenders won by system integration partners are expected to flow through in the next financial year.
Tejas Networks Ltd is currently trading at Rs192.15 down by Rs21.25 or 9.96% from its previous closing of Rs213.40 on the BSE. The scrip opened at Rs215 and has touched a high and low of Rs215 and Rs186 respectively.