Industry

Demand lifts Tejas net by 120% in Q1

Tejas Networks, a network products maker, reported on Tuesday that profit after tax for the three months ended June jumped 120% year-on-year to ₹45 crore, helped by higher demand for optical transmission equipment. Consolidated revenue grew 16% to ₹232 crore.

Sanjay Nayak, Managing Director, and CEO, said: “We had a solid quarter of revenue and profitability growth. Our India business continues to show robust growth due to increased demand for data and the Indian government’s focus in rolling out broadband networks.”

“While we expect India to continue to be a large part of our business during this year, we see strong momentum in our international business, across South-East Asia, Africa, Mexico, and the U.S. During the quarter, we received orders from seven new international customers. With a strong pipeline of orders and many active engagements, we are confident of strong growth this year.”

The advent of 5G and IOT, densification of fiber networks and proliferation of cloud services, continues to provide a long-term growth opportunity for our business, since our customers need to enhance their network infrastructure, according to a company statement

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Printable version | Apr 6, 2020 6:04:18 PM | https://www.thehindu.com/business/Industry/demand-lifts-tejas-net-by-120-in-q1/article24505902.ece

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