Tejas Networks, a prominent domestic telecom equipment manufacturer, announced a consolidated net loss of ₹196.55 crore for the third quarter of the 2025-26 fiscal year (Q3 FY26), ending December 31, 2025. This marks the company's second consecutive quarter reporting a loss. The financial downturn was significantly driven by a drastic 88% year-on-year plunge in revenue from operations, which fell to ₹306.79 crore, compared to ₹2,642.24 crore recorded in the corresponding December 2024 quarter (Q3 FY25). This dismal performance led to a sharp reaction in the stock market, with Tejas Networks' shares tumbling over 12% and hitting a fresh 52-week low. The primary reason cited for this substantial decline in sales and profitability is the deferment of a crucial purchase order from state-owned Bharat Sanchar Nigam Limited (BSNL). This order, valued at ₹1,526 crore for 18,000 sites, was delayed, directly impacting the company's revenue recognition for the quarter. Tejas Networks is a key supplier for BSNL's 4G network rollout, as part of the C-DOT–TCS consortium, and is a significant provider of network routers. Despite the weak financial performance, the company indicated that it holds an inventory worth ₹2,363 crore from the December 2025 quarter, which it expects to convert into finished goods and ship in the coming months, potentially boosting future revenues. Around 85% of Tejas Networks' revenue mix in the reported quarter was from the domestic market.