The loss was attributed to delayed purchase orders and shipment clearances, particularly relating to the BSNL 4G project.
Revenue plunged 87% year-on-year to ₹211 crore from ₹1,563 crore in Q1 FY25, and dropped 89% sequentially. EBITDA loss stood at ₹126.6 crore versus a positive ₹230 crore last year, with margins slipping to -60% from 10.9%.
“We won orders for routers under BharatNet Phase 3 and optical equipment from private operators in India. However, shortfall in revenue was due to delays in receipt of purchase orders, including from BSNL,” said COO Arnob Roy.Key financials:
| Quarter | Revenue (₹ crore) | QoQ Change | YoY Change | EBITDA (₹ crore) | EBITDA % | PAT/Loss (₹ crore) |
|---|---|---|---|---|---|---|
| Q1FY26 | 210.98 | -89% | -86.5% | -126.6 | -60.0% | -193.9 |
| Q4FY25 | 1907 | -23.6% | 371.8% | 121.6 | 6.38% | -71.8 |
| Q1FY25 | 1563 | +12.8% | 696.2% | 230.26 | 10.9% | 77.5 |
CFO Sumit Dhingra added, “The net loss of ₹194 crore was largely due to lower revenue. But we ended the quarter with an order book of ₹1,241 crore, up 22% QoQ.” The company expects fresh orders soon, including a ₹1,526 crore RAN equipment order tied to BSNL’s expansion.
Order book and trade receivables (₹ crore):
| Quarter | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 |
|---|---|---|---|---|---|
| Order Book | 7,091 | 4,845 | 2,681 | 1,019 | 1,241 |
| Trade Receivables | 2,052 | 3,758 | 4,730 | 4,884 | 4,453 |
Tejas Network’s cash position at the end of the quarter stood at ₹545 crore.
Ahead of the announcement, shares of Tejas Networks closed 1.46% higher at ₹703.80 on the NSE on Monday.
