Tejas Networks shares soar more than 15%, hit new all-time high. Here’s why
Tejas Networks share price: Shares of Tejas Networks jumped 15.5% today (April 23) to hit a new all-time high of ₹1,046.95 apiece following the realease of company’s Q4 results. The Tata Group backed company achieved profitability with a net profit of ₹147 crore while revenue from operations during this period came in at ₹1,171 crore- a 343% year-on-year increase.
Tejas Networks designs and manufactures high-performance wireline and wireless networking product.
In the fiscal year 2024, the company’s net profit amounted to ₹63 crore- an improvement from net losses of ₹36 crore and ₹63 crore reported in FY23 and FY22. Revenue from operations for FY24 surged by 168% year-on-year to ₹2,471 crore, the company said.
This comes as the company entered into an agreement with Telecom Egypt, the Information Technology Industry Development Agency, and the National Telecom Institute.
Atul Tiwari is a seasoned journalist at Mumbai Times, specializing in city news, culture, and human-interest stories. With a knack for uncovering compelling narratives, Atul brings Mumbai’s vibrant spirit to life through his writing.
