Tejas Networks swings to Rs 307 crore Q2 loss as revenue falls 91%
TEJASNET · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 9.0 pts less than Nifty Smallcap 250 and 5.2 pts less than its Telecom - Equipment & Accessories peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Consolidated Q2 revenue fell 90.7% year on year to Rs 261.82 crore from Rs 2,811.26 crore. Net result swung to a Rs 307.13 crore loss from Rs 275.18 crore profit. For April to September, revenue fell 50.9% to Rs 4,374.03 crore and loss was Rs 501 crore, versus Rs 352.66 crore profit. The quarter included a Rs 145.43 crore inventory write-down and Rs 44.44 crore warranty provision. Operating cash outflow for the half year was Rs 510.32 crore.
Negative: the sharp sales fall, losses, major write-down and cash outflow raise earnings and execution concerns and may pressure the share price.