Latest news with #SumitDhingra
Business Mayor
16-05-2025
- Business
- Business Mayor
Cartier owner Richemont sales up 7% as jewellery shines
Representative Image Cartier owner Richemont reported a slightly better-than-expected 7 per cent rise in quarterly sales on Friday as brisk luxury jewellery business in the United States partly offset weaker demand for watches in Asia. The Swiss-based company, which also owns jewellery brand Van Cleef & Arpels and watch label Piaget, said sales in its fourth quarter to end-March rose to 5.17 billion euros (USD 5.80 billion), a 7 per cent rise in constant currencies. That is slightly more than the 6 per cent expected, according to a Visible Alpha consensus cited by HSBC, and slightly slower than the 10 per cent growth rate in the third quarter. The jewellery division posted an 11 per cent rise in sales over the quarter, mitigating a decline, also of 11%, from the watches division, whose Chinese sales have been hit as the country's property crisis shrank the appetite for luxury purchases. Luxury groups started the year with hopes that robust demand in the United States would lift the sector out of its biggest slump in years, but from mid-February, signs emerged of a weakening U.S. economy and tariff announcements in April brought more uncertainty. Richemont, which caters to extremely wealthy clientele, is viewed by analysts as more resilient to a downturn than other luxury groups that rely more on fashion sales. 'Richemont continued to gain significant market share in jewellery,' Vontobel analyst Jean-Philippe Bertschy said, noting the division accounted for 54 per cent of sales, compared to 36 per cent in 2019. Read More Bestseller India appoints Sumit Dhingra as country director Bertschy also flagged what he said was spectacular growth and profit, especially when compared with competitor LVMH , which owns jewellery labels Bulgari and Tiffany, although he said Richemont was 'not impervious' to the current volatile environment. Richemont shares are up 11 per cent since the start of the year, while shares of Hermes, which also caters to ultra wealthy shoppers, are up 14%. LVMH and Gucci-owner Kering are down 20 per cent and 25 per cent respectively. Fears of a global recession have prompted downward revisions in estimates. Consultancy Bain said on Wednesday that it had lowered its annual sales forecast for global sales of luxury goods to a likely 2 per cent to 5 per cent drop, following the sector's 1 per cent decline in 2024.
Mint
28-04-2025
- Business
- Mint
Tejas Networks share price tanks over 15% after company posts net loss of ₹72 crore in Q4
Tejas Networks share price crashed over 15% after the company reported its Q4 results, posting a net loss. Tejas Networks shares dropped as much as 15.55% to ₹ 726.10 apiece on the BSE. Tejas Networks reported a net loss of ₹ 71.8 crore in the fourth quarter of FY25 as compared to a net profit of ₹ 146.8 crore in the same quarter last fiscal year. The loss was due to increased investments in R&D and one-time charges in certain inventory and R&D expenses, the company said. The company's revenue in Q4FY25 increased 43.7% to ₹ 1,906.9 crore from ₹ 1,326.9 crore, year-on-year (YoY). At the operating level, EBITDA for the quarter ended March 2025 declined 60.7% to ₹ 121.5 crore from ₹ 309.3 crore in the year-ago period. The EBITDA margin dropped to 6.4% from 23.3% YoY. 'We ended the quarter with an order book of ₹ 1,019 crore and a net loss of ₹ 72 crore, due to increased investments in R&D and one-time charges in certain inventory and R&D expenses. We ended FY25 with a revenue of ₹ 8,923 crore and net profit of ₹ 447 crore, a significant growth over FY24,' said Sumit Dhingra, CFO, Tejas Networks. Tejas Networks share price has declined by 2% over the past month and has fallen 38% over the last six months. On a year-to-date (YTD) basis, the stock is down 35%. Over the past one year, Tejas Networks shares have declined by 25%. However, despite the recent weakness, the stock has delivered multibagger returns of 1,925% over the past five years. At 9:45 AM, Tejas Networks share price was trading 10.46% lower at ₹ 769.95 apiece on the BSE.
Mint
28-04-2025
- Business
- Mint
Tejas Networks share price tanks over 15% after company posts net loss of ₹72 crore in Q4
Tejas Networks share price crashed over 15% after the company reported its Q4 results, posting a net loss. Tejas Networks shares dropped as much as 15.55% to ₹ 726.10 apiece on the BSE. Tejas Networks reported a net loss of ₹ 71.8 crore in the fourth quarter of FY25 as compared to a net profit of ₹ 146.8 crore in the same quarter last fiscal year. The loss was due to increased investments in R&D and one-time charges in certain inventory and R&D expenses, the company said. The company's revenue in Q4FY25 increased 43.7% to ₹ 1,906.9 crore from ₹ 1,326.9 crore, year-on-year (YoY). At the operating level, EBITDA for the quarter ended March 2025 declined 60.7% to ₹ 121.5 crore from ₹ 309.3 crore in the year-ago period. The EBITDA margin dropped to 6.4% from 23.3% YoY. 'We ended the quarter with an order book of ₹ 1,019 crore and a net loss of ₹ 72 crore, due to increased investments in R&D and one-time charges in certain inventory and R&D expenses. We ended FY25 with a revenue of ₹ 8,923 crore and net profit of ₹ 447 crore, a significant growth over FY24,' said Sumit Dhingra, CFO, Tejas Networks. Tejas Networks share price has declined by 2% over the past month and has fallen 38% over the last six months. On a year-to-date (YTD) basis, the stock is down 35%. Over the past one year, Tejas Networks shares have declined by 25%. However, despite the recent weakness, the stock has delivered multibagger returns of 1,925% over the past five years. At 9:45 AM, Tejas Networks share price was trading 10.46% lower at ₹ 769.95 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions. First Published: 28 Apr 2025, 09:47 AM IST
Business Standard
26-04-2025
- Business
- Business Standard
Tejas Networks reports dismal Q4 outcome
Tejas Networks reported a consolidated net loss of Rs 71.80 crore in Q4 FY25 as against a net profit of Rs 146.78 crore posted in Q4 FY24. Total revenue from operations soared to Rs 1,906.94 crore in Q4 FY25 from Rs 1,326.88 crore recorded in the corresponding quarter the previous year. Profit before tax surged 77.13% to 1,960.07 crore in Q4 FY25, compared with Rs 1,106.56 crore in Q4 FY25. Cash and cash equivalents were at Rs 827 crore in Q4 FY25, up from Rs 643 crore in Q4 FY24, registering a growth of 28.61% QoQ. During the quarter, the companys order book stood at Rs 1,019 crore. On a full-year basis, the companys net profit zoomed 609.52% to 447 crore on a 261.10% surge in revenue from operations to Rs 8,923 in FY25 over FY24. Anand Athreya, managing director and CEO of Tejas Networks, said, "In Q4-FY25 we completed deliveries of 100,000+ sites for the BSNL 4G/5G network, which is one of the largest single-vendor RAN networks delivered in record time. We had key wins for our leading-edge optical, PTN, and FTTx products in mobile backhaul, broadband services, and power utility networks. During the quarter we signed a technology collaboration agreement with NEC for development and marketing of advanced RAN technologies and joint go-to-market." Sumit Dhingra, CFO, said, "In Q4-FY25 we had strong YoY growth with revenue of Rs 1,907 crore. We ended the quarter with an order book of Rs. 1,019 crore and a net loss of Rs. 72 crore due to increased investments in R&D and one-time charges in certain inventory and R&D expenses. We ended FY25 with revenue of Rs 8,923 crore and net profit of Rs 447 crore, a significant growth over FY24." Meanwhile, the board has recommended a dividend of 25% (Rs 2.5/share), subject to the approval of the shareholders. Tejas Networks designs and manufactures wireline and wireless networking products, with a focus on technology, innovation, and R&D. TNL carrier-class products are used by telecom service providers, utilities, governments, and defense networks in 75+ countries. Tejas Networks is a part of the Tata Group, with Panatone Finvest (a subsidiary of Tata Sons) being the majority shareholder. Shares of Tejas Networks declined 2.89% to end at Rs 859.85 on Friday, 25 April 2025.
