Tejas Networks Q2 FY27 revenue up 55% to ₹406 crore

Tejas Networks Limited (NSE: TEJASNET)

reported Q2 FY27 revenue of ₹406 crore, up about 55% from ₹262 crore in Q2 FY26. Net loss narrowed to ₹207 crore from ₹307 crore a year ago. What happened: Revenue from operations grew on product shipments across Optical, IP and FTTx lines. The net loss shrank by about 33% year on year. The company also received a Letter of Intent for over 18,000 4G sites for BSNL. Order book stood at ₹2,315 crore at the end of Q2 FY27, up about 51% from ₹1,529 crore at the end of Q1 FY27. Why it matters: A bigger order book gives medium-term revenue visibility in domestic telecom hardware. The BSNL 4G expansion is the main source of that demand in this update. My view: The direction is right, but the company is still loss-making. A ₹207 crore loss on ₹406 crore of revenue means roughly ₹0.51 lost for every ₹1 of sales. Orders only help profit if they convert into shipments at better margins. An LOI is not a final contract, and the data does not say how much of the order book jump comes from the BSNL LOI. So I treat the order book as support for revenue, not yet for profit. Revenue growth and the narrower loss are positives. The ongoing loss caps my conviction. What I am watching: the pace of the 18,000+ site BSNL deployment, the quarterly EBITDA margin trend, and the path to net profit breakeven in the coming quarters. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.