Tejas Networks shares hit 20% upper circuit limit, boosted by strong Q2 results

Shares of Tejas Networks Ltd soared 20 per cent in Monday's trade to touch their upper price band of Rs 1,427.55. The stock was last seen trading 13.36 per cent up at Rs 1,348.60. At this price, it has gained 54.52 per cent on a year-to-date (YTD) basis.

The telecom equipment company said its second quarter (Q2 FY25) revenue came at Rs 2,811 crore, up 610 per cent year-on-year (YoY). During the quarter under review, the company reported a profit of Rs 275 crore.

Sumit Dhingra, CFO of Tejas Networks said, "In Q2 FY25 we had a strong QoQ and YoY growth with a revenue of 2,811 crore. We ended the quarter with an order book of Rs 4,845 crore and a net profit of Rs 275 crore. In this quarter we also completed the merger of Saankhya Labs with Tejas."

In the wireline business, the company saw a good traction for GPON and DWDM products in international markets with new customer wins in Americas and Africa.

Anand Athreya, managing director and CEO of Tejas Networks said, "In Q2 FY25 we made record deliveries of over 30,000 4G sites. We had continued success with GPON and DWDM wins, both in India and globally. We remain focused on expanding our product portfolio and pursuing market opportunities in line with our strategy."

The company produces optical and data networking products. It designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in more than 75 countries.