Tejas Networks Ltd Q1FY22 consolidated net profit at Rs. 7.55 crore

Tejas Networks Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.152.63 crores during the period ended June 30, 2021 as compared to Rs.205.40 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.7.55 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.33.55 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.0.78 for the period ended June 30, 2021 as compared to Rs.3.49 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 152.63 crs	₹ 205.40 crs	-25.69%
Net Profit	₹ 7.55 crs	₹ 33.55 crs	-77.5%
EPS	₹ 0.78	₹ 3.49	-77.65%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.152.63 crores during the period ended June 30, 2021 as compared to Rs.84.45 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.7.55 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(9.76) crores for the period ended June 30, 2020.

The company has reported EPS of Rs.0.78 for the period ended June 30, 2021 as compared to Rs.(1.06) for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 152.63 crs	₹ 84.45 crs	80.73%
Net Profit	₹ 7.55 crs	₹ (9.76) crs	177.36%
EPS	₹ 0.78	₹ (1.06)	173.58%

Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, "We are on track for our business growth and improved profitability, driven by rapid adoption of broadband services and increased bandwidth consumption, which is generating robust demand for our equipment. Our international revenues grew by 81.8% YoY and was 52% of total revenues for the quarter. Our order book is healthy and has increased to Rs. 701 crore. We continue to see supportive Government policies for promoting domestic manufacturing and we have applied under the Government's Performance Linked Incentive (PLI) scheme for telecom equipment."

Mr. Venkatesh Gadiyar, CFO said, "With increased revenues, we continue to improve our profitability. However, our working capital was higher compared to previous quarter, primarily due to delayed payments from few of our customers because of COVID lockdowns, and higher payments made to our component suppliers to minimize supply chain disruptions. We expect to get our working capital normalized in the next few quarters. As on June 30, 2021 our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, stood at Rs. 312 crores and we continue to be a debt-free Company."

Shares of Tejas Networks Ltd was last trading in BSE at Rs. 183 as compared to the previous close of Rs. 186. The total number of shares traded during the day was 18997 in over 265 trades.

The stock hit an intraday high of Rs. 188.9 and intraday low of 177. The net turnover during the day was Rs. 3457205.

Source : Equity Bulls

Keywords