Tejas Networks, networking equipment maker, reported 120 per cent growth in net profit to Rs 45 crore for the April-June quarter on the back of broadband expansion in India.
The company posted a net profit of Rs 20.44 crore during the year-ago period.
Tejas Networks reported a 16 per centgrowth consolidated revenues to Rs 232 crore during the period.
The company said it expects the growth momentum to continue for this fiscal.
The Bengaluru-headquartered company sees increasing use of data by consumers, businesses and governments could significantly boost the demand for optical transmission equipment.
Roll-out of 5G services, use of internet of things (IoT) are two major activities that promise a long-term growth opportunity for the sector.Our India business continues to show robust growth due to increased demand for data and Indian governments focus in rolling out broadband networks.
While we expect India to continue to be a large part of our business during this year, we see strong momentum in our international business, across South-East Asia, Africa, Mexico and USA.
During the quarter, we received orders from seven new international customeRs With a strong pipeline of orders and many active engagements, we are confident of strong growth this year, Sanjay Nayak, managing director and CEO, Tejas Networks, was quoted in a statement.
During the quarter, the company was granted 2 patents resulting in a total of 78 patents.