NeraTel posts 44.7% decline in revenue of $22.3 mil in 1QFY2024, grows order intake by 61.1%

Communications and network solutions provider Nera Telecommunications (SGX:N01) (NeraTel) announced in its 1QFY2024 ended March business update that its revenue has declined by 44.7% y-o-y to $22.3 million from $40.3 million a year ago.

This was mainly due to lower contribution from the group’s Government, Transport and Utilities segment and service provider segment, both of which saw a 75.4% and 32.3% y-o-y decline. The decline was partially offset by higher contributions from the Enterprise sector.