Tejas Networks shares soar more than 15%, hit new all-time high. Here's why - Hindustan Times
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Tejas Networks shares soar more than 15%, hit new all-time high. Here's why

Apr 23, 2024 12:09 PM IST

Tejas Networks share price: The company's net profit is at ₹147 crore while revenue from operations during this period came in at ₹1,171 crore.

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.

Bajaj Finance Q3 results: The stock rose 1.44 per cent to settle at <span class='webrupee'>₹</span>7,187.50.
Bajaj Finance Q3 results: The stock rose 1.44 per cent to settle at 7,187.50.

Tejas Networks designs and manufactures high-performance wireline and wireless networking product.

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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.

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This comes as the company entered into an agreement with Telecom Egypt, the Information Technology Industry Development Agency, and the National Telecom Institute.

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