Sterlite Tech Q2 PAT rises 81% yoy to Rs1.06cr

STL delivers 30% yoy revenue growth. Robust order book at Rs115 Bn.

Oct 21, 2021 02:10 IST India Infoline News Service

Sterlite Technologies Limited (STL), an industry leading integrator of digital networks today reported a robust 30% yoy revenue growth in its financial results for the second quarter ended September 30, 2021. STL recorded Rs15.08 billion in revenues with ~43% coming in from the EMEA region and ~12% from the Americas, demonstrating increased global traction for its integrated digital network solutions. The company had recorded a revenue of Rs11.60 billion in Q2FY21.

The company’s Profit After Tax (PAT) increased 81% yoy to Rs1.06cr in Q2FY22 from Rs0.68cr in Q2FY21. EBITDA rose 27% yoy to Rs2.69cr in Q2FY22 from Rs2.12cr in Q2FY21.

At around 2.50 pm, Sterlite Technologies Ltd was trading at Rs278 per piece down by Rs5 or 1.77% from its previous closing of Rs283 per piece on the BSE.

“The world is witnessing massive network creation in the areas of 5G, FTTx and Open RAN with an increased focus on optical connectivity. This has led to rapid growth in fibre demand and a buoyant long term outlook. With its global footprint, fibre capacity of 50 million fibre kilometers and planned cable capacities of 42 million fibre kilometers, STL is very well positioned to lead in this decade of network creation,” company said in a filing on Thursday.

Delivering on the strategic roadmap

Over the past few quarters, STL has taken a series of strategic steps to deliver on its global plans through the company’s three growth levers – Grow optical business, Globalise system integration, and Build disruptive wireless solutions. This focused strategy is now yielding results.

Optical Networking - STL is ready for the next phase of growth with global solution centres and burgeoning demand for its technology oriented optical interconnect portfolio. Focusing on advanced optical technologies, STL also announced general availability of its pFTTx offering System Integration - With its field to factory expertise, the company announced 2 top tier wins to the tune of GBP 42 million in the UK
Wireless Solutions - This quarter, STL launched Accellus, its flagship solution for 5G-ready, open and programmable networks. With its disruptive efforts in this area, STL has built formidable intellectual property with 54 patents as of Q2FY22.

“With our eyes on the future, we have been taking some formative steps over the past few quarters. We have elevated our global leadership team, executed strategic M&A and launched disruptive solutions for programmable, optical and wireless networks. These steps are now translating into revenue growth. Now with our robust optical, wireless and system integration capabilities, we are all set to deliver on the new architecture of digital networks and take the power of connectivity to billions across the globe,” Ankit Agarwal, Managing Director, STL, remarked.

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