This Tata Group stock surges 8% ahead of Q2 results today; firm posted PAT of ₹77 crore in Q1 FY25

Shares of the company in the morning trade were trading 6.82% higher at ₹1,201.20 apiece on the BSE. The stock jumped as much as 8.12% to ₹1,215.85 in the trade.

For the quarter ended June 30, 2024 (Q1 FY25), Tejas Networks reported consolidated net profit of ₹77.48 crore as against a net loss of ₹26.29 crore posted in Q1 FY24.

Net revenue from operations soared to ₹1,562.77 crore in Q1 FY25 from ₹188.13 crore recorded in the corresponding quarter previous year.

The company reported a profit before tax of ₹121.55 crore during the quarter as compared to a pre-tax loss of ₹65.88 crore registered in Q1 FY24.

Cash and cash equivalents were at ₹612 crore in Q1 FY25 from ₹641 crore in Q4 FY24, registering a decline of 4.52% QoQ. During the quarter, the company's order book stood at ₹7,091 crore, as per news reports. 

Anand Athreya, Managing Director and CEO of Tejas Networks, said, “In Q1-FY25, we scaled up our wireless manufacturing capacity and deliveries, leading to approximately 27,000 sites shipped cumulatively. In this quarter we also made releases for new radios in additional 4G bands for production in Q2. Our wireline business was mainly driven by shipments to our run-rate customers for GPON and DWDM equipment, both in India and globally. We also won strategic deals with an operator in the US for network modernization, and a leading operator in SE Asia for broadband rollout.”

Tejas Networks Ltd. designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence, and government entities in over 75 countries.

Sumit Dhingra, CFO, on June 2024 quarter results, said, “In Q1-FY25, we continued our strong QoQ and YoY growth with a revenue of ₹1,563 crore. We ended the quarter with an order book of ₹7,091 crore and a net profit of ₹77 crore. We continue to increase investments in R&D and operations, which is important for long-term growth and value creation. The merger of Saankhya Labs with Tejas is in an advanced stage, and the NCLT has reserved the matter for orders."