Tejas Network shares slump over 10% after Q3 results

Shares of Tejas Network slipped 10.06% to trade at an intra-day low of ₹986 apiece on the National Stock Exchange (NSE) on Friday, January 24, a day after the Tata Group company announced its Q3 results.

The firm reported a net profit of ₹165.67 crore in the third quarter of 2024-25 crore, reversing its ₹44.87 crore loss in the same period last year. However, on a sequential basis its net profit declined 39.8% from ₹275 crore it had reported in Q2 FY25.

Its revenue from operations declined 6.01% quarter-on-quarter to ₹2,642.24 crore in Q3FY2, compared to ₹2,811.26 in the previous quarter. However, on a year-on-year basis it increased 372% from ₹559.96 crore in the October-December quarter of last year.

Its order book of ₹2,681 crore is well below the last five-quarter average of ₹7,700 crore, which is also due to the BSNL deal execution. In Q2 FY24, order stood at ₹4,854 crore. However, trade receivables increased 25.9% to ₹4,730 crore from ₹3,758 crore in the previous quarter.

New appointment

Tejas Networks on January 24 notified the bourses on the appointment of Sanjay Malik as its Executive Vice President and Chief Strategy and Business Officer. He is a telecom industry veteran and the former India Country Head of Nokia.

Shares of Tejas Network closed at ₹988, down 9.87% on the NSE on Friday.