Tejas obtains 750 cr rupees mobilisation advance from TCS for BSNL deal
Tejas Networks' stock increased 4.5 percent in early trade on September 8 to reach a 52-week high of Rs 934.90 after the company got a mobilisation advance of Rs 750 crore from Tata Consultancy Services. The money was acquired as part of the agreement to provide radio access network hardware for BSNL's nationwide 4G/5G network in India. Tejas Networks shares were up 1.7 percent to Rs 908.55 at 09.50 am on the National Stock Exchange.
In August, Tejas Networks was awarded the TCS contract for the provision of support and yearly maintenance services for Radio Access Network hardware for BSNL's Pan-India 4G/5G network, which will cover about 100,000 locations. The order's total cost is Rs 7,492 crore.
The supply of the equipment will be executed by the company across 2023 and 2024, whereas support and maintenance services will be for a period of 9 years post the warranty period.
In the April-June quarter, the wireless telecom and data networking products company recorded a consolidated net loss of Rs 26.3 crore, widening it from a loss of Rs 11.5 crore seen in the preceding quarter. In the year-ago period as well, the company had reported a net loss of Rs 6.6 crore.
On a sequential basis, revenue also fell 37.2 percent to around Rs 188 crore, while it was up over 46 percent on year.
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