Wireline and wireless networking products maker announced that it has secured a contract worth Rs 298 crore from Power Grid Corporation of India Limited (PGCIL).
Tejas Networks said the contract for the expansion of PGCIL’s pan-India telecom backbone and access network is for the supply, installation, commissioning and support of its optical networking equipment.
As part of this contract, Tejas will deploy a wide range of its versatile family of products including 100G/200G DWDM systems with TJ1600 multi-terabit OTN cross-connect and advanced flex-grid ROADM functionality, MPLS-TP/Carrier Includes TJ1400P series of Ethernet. Switches with TezNMS, its universal, multi-technology network management system, create a scalable and high-capacity network for PGCIL.
Sanjay Nayak, Managing Director and CEO, Tejas Networks said, “We are delighted to be selected by PGCIL for the capacity expansion of their nationwide backbone and access network, positioning us as a leading trusted telecom equipment provider for critical infrastructure. This win is a strong endorsement of the competitiveness of our end-to-end portfolio of world-class optical networking products for Access, Metro and Backbone networks.”
Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, Internet service providers, utilities, defense and government entities in more than 75 countries. Tejas Network is a part of the Tata Group, in which Pantone Finvest (a subsidiary of Tata Sons) is the majority shareholder.
Tejas Networks reported a consolidated net loss of Rs 6.64 crore in Q1 FY23 as compared to a net profit of Rs 7.55 crore in Q1 FY22. Net revenue during the quarter was at Rs 125.76 crore, down 12.8% YoY. The company said Q1 revenue was weak as it could not fulfill customer orders due to component shortages. It is making changes to internal processes and tools to better manage the supply chain.
Shares of Tejas Networks fell 0.73% to Rs 468.80 on Friday, July 29, 2022.
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(This story has not been edited by Business Standard employees and is automatically generated from a syndicated feed.)
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