Tejas Networks reports consolidated net loss of Rs24.3cr in Q3FY22; Stock tumbles 5%

20 Jan 2022 , 09:23 AM

Tejas Networks has reported its financial results for the quarter ended December 31, 2021. For Q3 FY22, company’s net revenue was Rs107cr, which was a yoy decrease of 17.1%, resulted in a loss before tax of Rs32.9cr as compared to a profit of Rs9.2cr for corresponding previous period.

Loss after tax was Rs24.3cr as compared to profit of Rs9.2cr for corresponding previous year. For the 9 months ended December 31, 2021, net revenue was at Rs424.1cr, which was a yoy increase of 35.4%, resulting in a loss after tax of Rs13.1cr, as compared to a profit of Rs4cr for corresponding previous period.

Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “Our Q3 revenues were low as we could not fulfil customer orders due to ongoing global semiconductor component shortage.

However, our medium to long-term business momentum continues to be in our favour, as we saw a strong Q3 order inflow of Rs311cr, increasing our total order book to an all-time high of Rs986cr. ‘

At around 9:21 AM, Tejas Networks was tradaing at Rs418.65 per piece lower by 5% on Sensex.