New Delhi, July 15 -- Tejas Networks, a Tata Group-backed company, saw its shares crash 10% in Tuesday's trading session (July 15), immediately after the opening bell, hitting a new 26-month low of Rs.627.45 apiece. The sharp fall came after the company's June quarter results disappointed the Street, with the firm reporting a net loss due to weaker revenue.

The company, which announced its Q1 results post-market hours on Monday, reported a net loss of Rs.194 crore compared to a net profit of Rs.77 crore in the same period last year. The losses also widened compared to the previous March quarter, when the company reported a net loss of Rs.72 crore

Revenue from operations plunged 87% year-on-year to Rs.202 crore in Q1, primarily due to de...