Telecom Equipment & Infrastructure: Q1 FY27 results (April-June 2026)

8 companies have declared Telecom Equipment & Infrastructure Q1 FY27 results so far, the latest on 14 Aug 2026.

Across the 7 non-financial companies with a year-ago quarter to compare, sales grew +8.9% year on year, and the combined operating margin widened 770 bps to 6.9%.

43% of companies grew net profit; 1 turned a loss into a profit; 25% beat their own profit trend and 75% fell short of it.

Updated 12 Oct 2026, 13:17 IST 8 declared 112 due in the next 3 days →

Telecom Equipment & Infrastructure Q1 FY27 scoreboard

Sales growth
+8.9%
YoY, 7 companies combined; median -2.2%
Operating margin
6.9%
+770 bps YoY
Grew profit
43%
1 turnaround, 1 into loss
Vs own profit trend
25% / 75%
above / below, 0% in line
Price since results
-13.0%
median; 29% of 7 stocks up
Other-income heavy
2
25%+ of pre-tax profit from other income & one-offs

Latest Telecom Equipment & Infrastructure Q1 FY27 results 8

Kavveri Defence & Wireless Technologies Limited

KAVDEFENCE · Telecom Equipment & Infrastructure · Q1 FY27 · Consolidated · Filed
M Cap
₹554 Cr
P/E
—
PEG
—
Since results
+56.2%
  • Into loss: a profit a year ago
  • Profit -215% below its own trend
  • Operating margin contracted 12969 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales -63.1%+56.9% 1.40.93.9
Operating profit to lossloss narrowed -1.5-1.81.0
OPM % -12969 bps+8821 bps -103.1%-191.3%26.6%
Other income +431.1%-82.4% 0.42.10.1
Net profit to lossto loss -1.20.31.1
PAT margin % -11153 bps-11434 bps -83.9%30.4%27.6%
EPS (₹) to lossto loss -0.200.050.31

Quality of profit

Pre-tax profit −₹1.2 Cr: core business −₹1.6 Cr, other income ₹0.4 Cr.

Core profit YoY: to loss

Against its own trend ?

TrendActualGap
Sales₹4.1₹1.4 -65.1% below
Net profit₹1.1−₹1.2 -214.6% below
AI read of the filing Kavveri Defence Posts Q1 FY27 Consolidated Net Loss of Rs 1.21 Cr; Total Income at Rs 1.82 Cr Negative
  • Consolidated total income stood at Rs 181.51 lakhs for the quarter ended June 30, 2026.
  • Consolidated net loss came in at Rs 121.10 lakhs versus a profit of Rs 107.78 lakhs in Q1 ended June 30, 2025.
  • Standalone revenue from operations dropped to Rs 43.78 lakhs compared to Rs 286.13 lakhs in Q1 of the previous year.
Full analysis →

ITI Limited

ITI · Telecom Equipment & Infrastructure · Q1 FY27 · Consolidated · Filed
M Cap
₹23,121 Cr
P/E
87.8
PEG
5.49
Since results
-14.5%
  • Operating margin expanded 190 bps YoY
  • Operating cash flow was negative in FY26 despite a profit
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales -14.7%-32.3% 425628498
Operating profit from lossfrom loss 1.8-111-7.3
OPM % +190 bps+1810 bps 0.4%-17.7%-1.5%
Other income -35.8%-98.2% 8.447213.0
Net profit loss narrowedto loss -32.2375-63.6
PAT margin % +519 bps-6730 bps -7.6%59.7%-12.8%
EPS (₹) loss narrowedto loss -0.333.89-0.66

Quality of profit

Pre-tax profit −₹32.2 Cr: core business −₹40.7 Cr, other income ₹8.4 Cr.

Core profit YoY: loss narrowed

Cash & debt

FY26 cash from operations −₹135 Cr: -58% of FY26 net profit of ₹232 Cr.

Borrowings ₹765 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹283₹425 +50.4% above
AI read of the filing ITI Q1 FY27: Net Loss Narrows to ₹32.25 Cr; Auditor Issues Disclaimer of Conclusion Negative
  • Net loss narrowed to ₹32.25 Cr in Q1 FY27 from ₹63.61 Cr in the same quarter last year.
  • Revenue from operations fell to ₹425.03 Cr, down from ₹498.01 Cr in Q1 FY26.
  • Order book remains substantial at ₹13,882.81 Cr, which is approximately 6.3x the TTM revenue.
Full analysis →

Astra Microwave Products Limited

ASTRAMICRO · Telecom Equipment & Infrastructure · Q1 FY27 · Consolidated · Filed
M Cap
₹15,693 Cr
P/E
83.0
PEG
2.08
Since results
-8.9%
  • Profit -38% below its own trend
  • Operating margin contracted 179 bps YoY
  • 34% of pre-tax profit came from other income and one-off items
  • Exceptional items of ₹3.0 Cr in the quarter
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales -11.5%-63.8% 177488200
Operating profit -19.3%-79.5% 33.116141.0
OPM % -179 bps-1427 bps 18.7%33.0%20.5%
Other income -4.9%-65.8% 2.47.02.5
Net profit -24.1%-88.4% 12.310616.3
PAT margin % -116 bps-1473 bps 7.0%21.7%8.1%
EPS (₹) -24.0%-88.4% 1.3011.161.71

Quality of profit

Core 66%Other income & one-offs 34%

Pre-tax profit ₹15.7 Cr: core business ₹10.4 Cr, other income ₹2.4 Cr, exceptional & other items ₹3.0 Cr.

Core profit YoY: -39.1% · reported profit -24.1%

Cash & debt

FY26 cash from operations ₹387 Cr: 201% of FY26 net profit of ₹193 Cr.

Borrowings ₹288 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹220₹177 -19.6% below
Net profit₹19.8₹12.3 -37.8% below
AI read of the filing ₹176 Cr Q1 Revenue: Astra Microwave Reports 10.7% YoY Revenue Dip and MD Transition Negative
  • Standalone revenue for Q1 FY27 fell 10.7% YoY to ₹176.21 Cr compared to ₹197.26 Cr in Q1 FY26.
  • Net profit for the quarter declined 24.4% YoY to ₹9.82 Cr, down from ₹13.00 Cr.
  • Profit Before Tax (PBT) stood at ₹13.16 Cr, a 23.7% decrease from ₹17.25 Cr in the previous year's first quarter.
Full analysis →

GTL Infrastructure Limited

GTLINFRA · Telecom Equipment & Infrastructure · Q1 FY27 · Standalone · Filed
M Cap
₹1,358 Cr
P/E
1.3
PEG
0.08
Since results
-13.0%
  • Turnaround: profit against a loss a year ago
  • Operating margin expanded 1976 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales -2.2%-0.9% 327330335
Operating profit +78.8%+186.9% 14349.879.8
OPM % +1976 bps+2856 bps 43.6%15.1%23.9%
Other income -0.8%-66.4% 5.115.15.1
Net profit from loss-94.1% 69.41,186-232
PAT margin % +9068 bps-33768 bps 21.2%358.9%-69.5%
EPS (₹) from loss-94.5% 0.050.91-0.18

Quality of profit

Core 93%Other income & one-offs 7%

Pre-tax profit ₹69.4 Cr: core business ₹64.3 Cr, other income ₹5.1 Cr.

Core profit YoY: from loss

Cash & debt

FY26 cash from operations ₹535 Cr: 69% of FY26 net profit of ₹779 Cr.

Borrowings ₹5,898 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹342₹327 -4.2% in line
AI read of the filing GTL Infrastructure Reports Q1 Net Profit of ₹69.39 Cr Amid Debt Restructuring Watch
  • Reported a Net Profit of ₹69.39 Cr in Q1 FY27 compared to a Net Loss of ₹232.42 Cr in Q1 FY26.
  • Revenue from operations stood at ₹327.31 Cr, a slight decline from ₹334.53 Cr in the year-ago period.
  • Finance costs decreased by 91% YoY to ₹22.81 Cr due to the non-accrual of interest on outstanding loans under OTS discussions.
Full analysis →

Pace Digitek Limited

PACEDIGITK · Telecom Equipment & Infrastructure · Q1 FY27 · Consolidated · Filed
M Cap
₹3,564 Cr
P/E
—
PEG
—
Since results
-18.0%
  • 35% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales —— 555——
Operating profit —— 86.1——
OPM % —— 15.5%——
Other income —— 28.3——
Net profit —— 62.5——
PAT margin % —— 11.3%——
EPS (₹) —— 2.84——

Quality of profit

Core 65%Other income & one-offs 35%

Pre-tax profit ₹81.6 Cr: core business ₹53.3 Cr, other income ₹28.3 Cr.

Core profit YoY: —

AI read of the filing ₹62.5 Cr Consolidated PAT in Q1 FY27; Standalone Revenue Declines 22% YoY Neutral
  • Consolidated Profit After Tax (PAT) rose to ₹62.51 Cr in Q1 FY27 compared to ₹54.70 Cr in Q1 FY26
  • Standalone Revenue from operations decreased to ₹264.24 Cr from ₹339.67 Cr YoY
  • Unutilized IPO proceeds as of June 30, 2026, stood at ₹146.90 Cr
Full analysis →

Avantel Limited

AVANTEL · Telecom Equipment & Infrastructure · Q1 FY27 · Consolidated · Filed
M Cap
₹3,826 Cr
P/E
222.7
PEG
—
Since results
-18.3%
  • Profit +234% above its own trend
  • Operating margin expanded 461 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +35.7%+10.3% 70.463.851.9
Operating profit +66.7%+28.3% 17.413.610.5
OPM % +461 bps+346 bps 24.8%21.3%20.1%
Other income +167.3%-89.1% 0.11.10.0
Net profit +67.2%+13.0% 5.44.83.2
PAT margin % +144 bps+18 bps 7.7%7.5%6.2%
EPS (₹) +66.7%+17.6% 0.200.170.12

Quality of profit

Core 99%Other income & one-offs 1%

Pre-tax profit ₹8.7 Cr: core business ₹8.6 Cr, other income ₹0.1 Cr.

Core profit YoY: +63.2% · reported profit +67.2%

Cash & debt

FY26 cash from operations ₹10.0 Cr: 67% of FY26 net profit of ₹15.0 Cr.

Borrowings ₹34.0 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹45.0₹70.4 +56.4% above
Net profit₹1.6₹5.4 +234.3% above
AI read of the filing 65% YoY Profit Growth in Q1 FY27; Revenue Reaches Rs 70.12 Cr Positive
  • Standalone Revenue increased 35.3% YoY to Rs 70.12 Cr from Rs 51.84 Cr in June 2025.
  • Standalone Net Profit rose 64.9% YoY to Rs 7.62 Cr, representing a significant margin improvement.
  • Communications segment contributed nearly 100% of revenue at Rs 70.24 Cr with a segment profit of Rs 10.92 Cr.
Full analysis →

UMIYA BUILDCON LIMITED

UMIYA-MRO · Telecom Equipment & Infrastructure · Q1 FY27 · Consolidated · Filed
M Cap
₹172 Cr
P/E
20.1
PEG
—
Since results
+3.5%
  • Profit -100% below its own trend
  • Operating margin expanded 2171 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +27.3%-21.8% 16.320.912.8
Operating profit +472.5%-11.5% 4.65.20.8
OPM % +2171 bps+324 bps 27.9%24.7%6.2%
Other income -99.4%-22.2% 0.30.341.3
Net profit -99.2%-62.2% 0.20.631.4
PAT margin % -24363 bps-155 bps 1.4%3.0%245.1%
EPS (₹) -99.2%-60.6% 0.130.3316.82

Quality of profit

Core 79%Other income & one-offs 21%

Pre-tax profit ₹1.2 Cr: core business ₹1.0 Cr, other income ₹0.3 Cr.

Core profit YoY: from loss · reported profit -99.2%

Against its own trend ?

TrendActualGap
Sales₹18.0₹16.3 -9.3% below
Net profit₹62.9₹0.2 -99.6% below
AI read of the filing Umiya Buildcon Q1 FY27: Revenue Up 66% YoY to ₹16.36 Cr; PAT Drops on High Base Effect Neutral
  • Revenue from operations grew 66% YoY to ₹16.36 Cr from ₹9.86 Cr in Q1 FY26.
  • Net Profit declined to ₹2.37 Cr from ₹31.39 Cr YoY due to the absence of a ₹40.42 Cr one-time gain recorded in the previous year.
  • Real Estate segment assets reached ₹212.07 Cr, representing 75% of the total asset base of ₹282.60 Cr.
Full analysis →

Tejas Networks Limited

TEJASNET · Telecom Equipment & Infrastructure · Q1 FY27 · Consolidated
M Cap
₹7,947 Cr
P/E
—
PEG
—
  • Operating margin expanded 4245 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +99.0%+20.7% 402333202
Operating profit loss narrowedloss narrowed -100-118-136
OPM % +4245 bps+1056 bps -24.9%-35.4%-67.3%
Other income -10.0%-10.0% 9.010.010.0
Net profit loss widenedloss narrowed -202-211-194
PAT margin % +4579 bps+1311 bps -50.2%-63.4%-96.0%
EPS (₹) loss widenedloss narrowed -11.36-11.89-10.98

Quality of profit

Pre-tax profit −₹271 Cr: core business −₹279 Cr, other income ₹9.0 Cr, exceptional & other items −₹1.0 Cr.

Core profit YoY: loss narrowed

Cash & debt

FY26 cash from operations ₹135 Cr.

Borrowings ₹4,177 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹101₹402 +298.0% above

Standouts so far

Biggest profit growth

  1. Avantel+67.2%
  2. Astra Microwave-24.1%

Biggest profit declines

  1. Astra Microwave-24.1%
  2. Avantel+67.2%

Best price reaction

  1. Astra Microwave-8.9%
  2. GTL Infrastructure-13.0%
  3. ITI-14.5%
  4. Pace Digitek-18.0%
  5. Avantel-18.3%

Worst price reaction

  1. Avantel-18.3%
  2. Pace Digitek-18.0%
  3. ITI-14.5%
  4. GTL Infrastructure-13.0%
  5. Astra Microwave-8.9%

Among companies with a market cap of ₹1,000 Cr or more, so a tiny base does not top the list. Price reaction: last close against the close before the filing.

Reporting in the next three days

HCL Technologies (Mon 12 Oct), ICICI Prudential (Mon 12 Oct), RBL Bank (Mon 12 Oct), Swan Defence (Mon 12 Oct), Gujarat State (Mon 12 Oct), Swaraj Engines (Mon 12 Oct), Plastiblends India (Mon 12 Oct), UMIYA BUILDCON (Mon 12 Oct), Alkali Metals (Mon 12 Oct), Gradiente Infotainment (Mon 12 Oct), Agri-Tech (India) (Mon 12 Oct), Abhishek Integrations (Mon 12 Oct), Rudra Ecovation (Mon 12 Oct), Newtrac Foods (Mon 12 Oct), Inani Securities (Mon 12 Oct), Neil Industries (Mon 12 Oct), Adroit Industries (Mon 12 Oct), Gammon India (Mon 12 Oct), TYPHOON (Mon 12 Oct), UNIVARTS (Mon 12 Oct), VERONICAPRO (Mon 12 Oct), ICICI Prudential (Tue 13 Oct), Tata Elxsi (Tue 13 Oct), Transformers And Rectifiers (Tue 13 Oct) and 88 more. Full results calendar →

How to read this page

The numbers. Each card is one company's Q1 FY27 results as filed with NSE or BSE, read from the filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months). A swing between profit and loss is described in words: a percentage across it would mislead.

Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income, as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points (100 bps = 1 percentage point).

Quality of profit. Core profit is operating profit minus interest and depreciation: what the business itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more, and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net profit, since a fall in provisions can lift profit without the business growing.

Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead each company is measured against the path it was on: the same quarter last year, grown at the median of its last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales 5% or more above that, or net profit 10% or more above, is "above trend"; as far below is "below trend". It answers "was this quarter better or worse than the company's own recent run?", which consensus does not.

Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show its operating cash flow for the last financial year as a share of that year's net profit (flagged under 50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet against the one six months earlier (flagged at a 25% move). Balance sheets come with the September and March results, cash-flow statements with the March results.

Price since results. The latest close against the last close before the filing (a filing after 3:30 pm counts from the next session). It is a fact about the market's reaction, not advice.

Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150 (SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.

⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI