Tejas Networks reports weak results in Q1

The company's consolidated revenue for the quarter came in at Rs. 161.89 crore as against Rs. 235.83 crore in the corresponding quarter last year, registering a decline of 31.35 per cent YoY. The weak revenue during the quarter was primarily due to a steep decline in government business.

The EBITDA for the quarter fell by 61 per cent YoY to Rs. 24.19 crore as against Rs. 62.51 crore in the corresponding quarter last year, with a corresponding margin contraction of 1156 bps. The EBITDA margin for the quarter stood at 15 per cent. The PAT for the quarter came in at Rs. 5.85 crore as against Rs. 45.03 crore in the corresponding quarter last year, a decrease of 87 per cent YoY.

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

On Thursday, the stock of Tejas Networks opened at Rs. 120 per share and made an intraday high and low of Rs. 125 and Rs. 107.15, respectively on the BSE. At 11:00 am, the stock was trading at Rs. 108.65, down by 15.74 per cent.