Tejas Networks Soars on Subsidiary's Rs 96 Cr Win

Tejas Networks saw its shares rise by 1.13% to Rs 1,220.70 after its wholly owned subsidiary, Saankhya Labs, secured a significant order from NewSpace India. The order, valued at Rs 96.42 crore, involves the supply, installation, and commissioning of two-way Mobile Satellite Service (MSS) Terminals, specifically designed for vessel communication and support systems in marine fishing vessels.

These terminals will be utilized for monitoring, control, and surveillance (MCS) purposes, enhancing safety and communication in marine environments. This contract underscores Saankhya Labs’ growing presence in the satellite communication space and its ability to deliver cutting-edge technology for critical applications.

Tejas Networks, a leader in wireline and wireless telecom products, has been experiencing strong financial performance. The company reported a consolidated net profit of Rs 77.48 crore in Q1 FY25, a significant turnaround from the net loss of Rs 26.29 crore in the same quarter last year. Net revenue from operations also soared, reaching Rs 1,562.77 crore in Q1 FY25, compared to Rs 188.13 crore in Q1 FY24.

The order win from NewSpace India is expected to further bolster Tejas Networks' growth, reinforcing its position as a key player in high-performance communication networks.

News by Rahul Yelligetti