Tejas Networks hit an upper circuit of 5% at Rs 176.05 after the company reported a consolidated net profit of Rs 33.55 crore in Q4 FY21 compared with net loss of Rs 126.53 crore in Q4 FY20.
Revenue from operations increased by 269.34% year-on-year (YoY) to Rs 201.55 crore. Finance costs declined by 19.63% to Rs 0.86 crore while depreciation & amortization expenses fell by 30.88% to Rs 14.44 crore in the fourth quarter as compared to the corresponding quarter last year.
The company recorded a pre-tax profit of Rs 18.53 crore in Q4 FY21 as against a pre-tax loss of Rs 126.53 crore in Q4 FY20. It wrote back deferred taxes worth Rs 15.02 crore in Q4 March 2021.
Tejas Networks reported a consolidated net profit of Rs 37.54 crore in the year ended 31 March 2021 compared with net loss of Rs 237.12 crore in the year ended 31 March 2020. Net sales rose 34.84% to Rs 526.6 crore in FY21 from Rs 390.54 crore in FY20.
Sanjay Nayak, managing director and CEO of Tejas Networks said, "We ended our financial year with strong revenue as well as profitability growth in Q4-FY21. Our nternational business during the year saw a robust Y0Y revenue growth of 62% and was 40% of our total revenue (up from 33% during FY20), led by customers in Africa, Mid-east and South East Asia. We are seeing positive tailwinds for our business in India due to increased demand for high-speed broadband connections and Government policy for promoting domestic telecom equipment. We continued to see strong order inflows as well as new customer wins, resulting in a VoY booking growth of 54% and we ended the year with an order book of Rs 679 crore."
Venkatesh Gadiyar, CFO said, Our quarterly financial performance continues to improve, as we generated cash of Rs 47 crore and Rs 158 crore from operations during Q4-FY21 and full FY21 respectively. We also improved our working capital, with reduction in inventory levels as well as receivables. During the quarter, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, improved by Rs 29 crore to Rs 364 crore as on March 31, 2021 and we continue to be a debt-free Company."
As on date, we have filed for 349 patents of which 127 have been granted.
Tejas Networks designs, develops and sells networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. The company is ranked among top-10 suppliers in the global optical aggregation segment and has filed 349 patents.
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