Tejas Networks Q2FY19 profit surges by 25 per cent

Tejas Networks reported its results for the quarter ended September 30, 2018.

The company's consolidated revenue for the quarter came in at Rs. 207.03 crore as against Rs. 216.13 crore in the corresponding quarter last year, registering a decline of 4.2 per cent YoY.

The EBITDA for the quarter fell by 3.8 per cent YoY to Rs. 44.63 crore as against Rs 46.41 crore in the corresponding quarter last year, with a corresponding margin expansion of 8 bps. The EBITDA margin for the quarter stood at 21.6 per cent.

The PAT for the quarter came in at Rs. 33.48 crore as against Rs. 26.87 crore in the corresponding quarter last year, an increase of 25 per cent YoY. This jump in profit was mainly due to sharp decline in effective tax rate to 8 per cent in Q2FY19 from 21 per cent in Q2FY18.

During the quarter, the company has been granted 16 patents, resulting in a cumulative grant of 94 patents. As on date, the company has filed 349 patents. The company expects FY19 to end with revenue growth of around 20 per cent.

Tejas Networks Ltd. is a provider of carrier grade communications equipment and solutions for the telecom industry.

Today, the stock opened at Rs. 265.05 and made an intra-day high and low of Rs. 270.80 and Rs. 255.10, respectively, on the BSE. Finally, the stock closed at Rs. 262.30.