return to news
  1. Tejas Networks rises on entering into contract with Vodafone Idea

Market News

Tejas Networks rises on entering into contract with Vodafone Idea

Upstox

2 min read | Updated on December 10, 2024, 12:21 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Shares of the company saw an impressive rally as the company reported a turnaround in the bottom line the company reported a net profit of ₹275 crore compared to ₹13 crore net loss during the previous year, a similar quarter.

Tejas Networks.webp

Tejas Networks rises on entering into contract with Vodafone Idea

Tejas Networks, one of the leading telecommunications service providers, jumped in the early morning trade after the company announced a new contract win from Vodafone Idea.

The company has entered into a three-year contract with Vodafone Idea (VIL), a leading telecom service provider in India, to supply its industry-leading TJ1400 and TJ1600 packet and optical transmission products to augment Vodafone Idea’s backhaul capacity and boost network performance across multiple telecom circles in the country.

Vodafone Idea plans to accelerate the rollout of 4G and 5G services on a pan-India basis. Such systems are crucial to be ready for the growth in data traffic and rising bandwidth demands. Tejas Network’s state-of-the-art PTN and OTN products will play a crucial role in delivering the service across the region, said Mr Jagbir Singh, Vodafone Idea's CTO.

Tejas Network’s CEO and MD, Anand Athreya, said,” We are proud of partnering with Vodafone Idea as they embark on the journey to expand their nationwide 4G and 5 G network. We believe that this reflects our ability to design highly flexible and well-differentiated products that consistently align with the evolving needs of top-tier communication service providers such as VIL while drastically lowering the cost and energy per bit.”

In the quarter gone by, the company reported a strong set of numbers as they posted turnaround results. The company posted a net profit of ₹275 crore compared to a net loss of ₹13 crore in the previous year's similar quarter.

Tejas Networks designs and develops, and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story