Networks
Tejas Networks shares fall 3% after weak Q4; net loss widens to Rs 211 crore
Mumbai/IBNS: Shares of Tejas Networks slipped around 3% after the company reported a weak fourth-quarter performance, according to media reports.
The stock had ended Wednesday’s session 1.68% higher at Rs 450.
Net loss widens
The company posted a net loss of Rs 211.3 crore in Q4, marking its fifth consecutive quarterly loss.
This is a sharp increase from the Rs 71.8 crore loss reported in the corresponding quarter last year.
Revenue plunges sharply
Revenue fell 82.6% year-on-year to Rs 332.7 crore, compared to Rs 1,906.9 crore in the same period a year ago.
On a full-year basis, revenue declined 87% YoY.
Operating performance deteriorates
At the operating level, the company swung to an EBITDA loss of Rs 118.2 crore, compared with an EBITDA profit of Rs 121.5 crore in the same quarter last year.
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