Q4 Results 2022: Tejas Networks, Sundram Fasteners, Tata Metaliks announce March quarter results; here are key highlights

Q4 Results 2022: As the earnings season is ongoing, several listed companies announced their March quarter results. Among them were Tejas Network Limited, Sundaram Fastners and Tata Metaliks. Here are key highlights of the results.    

Tejas Networks Q4 Results 2022: Tejas Networks posts loss of Rs 49.62 cr in January-March quarter

Tejas Networks Q4 Results 2022:Tata group company Tejas Networks Limited on Friday posted a consolidated loss of Rs 49.62 crore in the fourth quarter ended on March 31, 2022, as the shortage of electronic chips hit its telecom gear production.

In contrast, the company had posted a profit of Rs 33.55 crore in the period a year ago.

The consolidated revenue from operations of Tejas Networks declined by 37.23 per cent to Rs 126.5 crore during the reported quarter from Rs 201.55 crore in the March 2021 quarter.

"We are disappointed that our fourth-quarter revenues were below our expectations. This was due to the ongoing global chip supply shortage and despite our best efforts, we could not manufacture enough products to fulfil open orders," Tejas Networks managing director and CEO Sanjay Nayak said in a statement.

For the year ended March 31, 2022, Tejas Networks posted a loss of Rs 62.71 crore while it had recorded a profit of Rs 37.54 crore in 2020-21. The annual consolidated revenue from operations of Tejas

Networks, however, increased by 4.55 per cent to Rs 550.59 crore from Rs 526.6 crore posted a year ago.

"We continue to see a positive business momentum with a strong fourth quarter order inflow of Rs 316 crore, increasing our total order book to an all-time high of Rs 1,175 crore.

"We have already taken advance inventory actions for securing components for our planned revenues for the next 12 months and we believe that we will be able to effectively address the challenges of the ongoing semiconductor component shortages," Nayak said.

TCS chief operating officer and executive director N Ganapathy Subramaniam will join the board of Tejas Networks as non-executive chairman with effect from May 18, according to a regulatory filing by the company.

Tejas Networks shares ended at Rs 505.50 on the NSE on Friday, up nearly 1.2 per cent from the Thursday closing price. 

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Sundram Fasteners results: Auto components maker Sundram Fasteners Q4 net drops 24% to Rs 107 cr

Sundram Fasteners results: Auto components maker Sundram Fasteners on Friday reported a 24 per cent decline in consolidated net profit at Rs 107.43 crore for the fourth quarter ended March 2022.

The company had reported a consolidated net profit of Rs 140.80 crore in the same period of the 2020-21 fiscal.

Revenue from operations, however, rose to Rs 1,339.84 crore in the reported quarter, as against Rs 1,273.10 crore in the year-ago period, the company said in a statement.

For the year ended March 31, 2022, the company posted a consolidated net profit of Rs 461.83 crore as compared to Rs 362.71 crore in 2020-21.

Its consolidated revenue from operations for FY22 was at Rs 4,902.06 crore, as against Rs 3,644.29 crore in the previous year.

Sundram Fasteners shares ended at Rs 835 on the NSE on Friday, up nearly 0.6 per cent from the Thursday closing price. 

Tata Metaliks Q4 results 2022: March quarter profit falls 30% to Rs 52 crore

Tata Metaliks Q4 results 2022:  Tata Metaliks posted a 30 per cent fall in its net profit to Rs 52.46 crore for the quarter ended March on Friday. This was owing to increased expenses.

The company had clocked a Rs 74.99 crore net profit during January-March period of preceding 2020-21 fiscal, Tata Metaliks said in a BSE filing.

Its total income during the said quarter, however, rose to Rs 814.65 crore compared to Rs 663.64 crore in the year-ago period.

The total expenses were higher at Rs 772.29 crore as against Rs 539.71 crore a year ago.

Tata Metaliks shares ended at Rs 864 on the NSE on Friday, up nearly 0.2 per cent from the Thursday closing price. 

Inputs from PTI