Tejas Networks announces consolidated results for quarter ending, June 30, 2017
Tejas Networks designs, develops, manufactures and sells high-performance and cost-competitiveoptical and data networking products, which are used to build high-speed communication networks over optical fiber. The consolidated revenues for the quarter grew by 49.0% year-on-year led by strong growth in domestic business. Our operating margins grew by 251.6% year-on-year. Our operating margin was 12.8% in Q1’18 compared to 5.4% in Q1’17. Our net profit after tax in Q1’18 was 9.2% as compared to net loss of 1.2% in Q1’17. Mr. Sanjay Nayak, CEO and MD of Tejas Networks said, “with exponential increase in data traffic in mobile as well as fixed-line broadband networks, we are witnessing a strong demand for our optical transmission equipment. During the quarter, we saw strong revenue growth especially from our Indian customers”.
During the quarter we completed our Initial PublicOffer (IPO) of shares, raising Rs. 450 crore by issuance of 1,75,09,727 sharesto retail and institutional shareholders. The primary object of the issueis to fund our R&D, increased working capital needs and general corporatepurposes.
As of June 30, 2017, our cash and cash equivalentsamounted to Rs.304.83 crore. Our debt as on that date was Rs 15.22 crore.
Mr. Venkatesh Gadiyar, CFO said, “our strong balancesheet provides us a perfect platform to seize any growth opportunity in themarket place. We continue to invest heavily in R&D and sales. During thequarter we also saw significant expansion in operating and net profits of thecompany".
During Q1’18, Tejas supplied a large portion of GPONproducts for Government of India’s flagship Bharatnet project for providingbroadband to villages. Mr. Arnob Roy, President, Optical Products said,“we are pleased to partner with the Indian government to execute theprestigious BharatNet project using our leading-edge GPON product.”
Tejas has filed 337 patents to date and duringQ1’18, Tejas won the award for “Top Indian Private Company (MSME) for Patent& Commercialization” from the Department of Industrial Policy andIntellectual Property Office, Government of India. Tejas also won the ClarivateAnalytics “India Innovation Award– Top 50”.