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- Bangalore
Tejas Networks designs, develops, manufactures and sells high-performance and costcompetitive optical and data networking products, which are used to build high-speed communication networks over optical fiber.
For the quarter ended September 30, 2017, our consolidated revenues (net of taxes and pass-through component sale to our contract manufacturers) were Rs. 214.90 crore which was a growth of 20.9% year-on-year. Our operating profits grew by 61.2% year-on-year and net profit grew 68.0% year-on-year. As a percentage of consolidated revenues (net of taxes and pass-through component sale to our contract manufacturers) our operating margin was 13.6% in Q2’18 compared to 10.2% in Q2’17 and our net profit after tax in Q2’18 was 12.5% as compared to net profit of 9.0% in Q2’17.
For the six month period ended September 30, 2017, our revenues (net of taxes and passthrough component sales to our contract manufacturers) were Rs. 415.01 crore which was a growth of 33.5% year-on-year, our operating profits grew by 120.2% year-on-year and our net profit grew 232.5% year-on-year.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We continue to see strong growth led by India, which is the world’s fastest growing optical networking market. We believe that India is at the cusp of a prolonged growth cycle in optical networking, driven by strong usage of mobile data as well as broadband by consumers, businesses and government”.
Tejas continued to strengthen its market position in India. Recently, Ovum (Informa), a global market-leading data, research and consulting firm, ranked Tejas as #1 in marketshare for India’s Optical Aggregation market for the last 4 quarters rolling.
Mr. Venkatesh Gadiyar, CFO said, “We continue to see the benefits of operating leverage, which is reflected in our strong profitability growth on a year-on-year basis. For the first half of the year, our net profit after tax was Rs. 47.31 crore and we generated cash of Rs. 94.72 crore from operations. As of September 30, 2017, our cash and cash equivalents amounted to Rs.381.52 crore. We are now practically a debt-free company, with a outstanding debt of just Rs. 3.37 crore as of September 30, 2017.”
Recently we have strengthened our management team and Mr. N R Ravikrishnan has joined us on October 11, 2017 as General Counsel and Chief Compliance officer. Earlier, he worked as the Company Secretary and Head (Compliance, Audit and Facilities) in Infosys Group.
About Tejas Networks Limited
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. Tejas Networks Ltd. is a part of the Tata Group, with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt. Ltd.) being the majority shareholder.
For more information, visit Tejas Networks at https://www.tejasnetworks.com
or contact Investor Relations: ir@india.tejasnetworks.com
Attn: Mr. Santosh Kesavan: skeshavan@india.tejasnetworks.com
Phone: +91 80 41794600
SAFE HARBOUR
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the industry in which the Company operates. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.
