Mine is working, but it is a full reboot:
# Reboot at 6:30am every day
# Note: To avoid infinite reboot loop, wait 70 seconds
# and touch a file in /etc so clock will be set
# properly to 6:31 on reboot before cron starts.
30 6 * * * sleep 70 && touch /etc/banner && reboot
Is the cron task failing or the network restart script?
How can we see the list of scheduled cron jobs?
EDIT: logged in through ssh and checked the crontab, and was able to see the cron jobs. but the system did not run the cronjob and then I found this documentation and followed the steps. I think below line did the job
/etc/init.d/cron restart
Make sure that cron is started whenever the router boots up via LuCI → System → Startup and the cron Initscript is Enabled.
The LuCI page also allows you to Start, Restart and Stop any of the other Initscripts.
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