Sterlite Tech skids after dismal Q1 result

25 Jul 2022 , 02:31 PM

Revenue from operations rose 20.3% to Rs 1,575 crore in Q1 FY23 from Rs 1,309 crore posted in Q1 FY22. The company posted a pre-tax loss of Rs 31 crore in Q1 FY23 as against a profit before tax of Rs 144 crore posted in Q1 FY23. EBITDA fell to Rs 119 crore in Q1 FY23 from Rs 238 crore in Q1 FY22. EBITDA margin de-grew to 7.6% as on 30 June 2022 as against 18.1% posted as of 30 June 2021. The companys order book stood at Rs 11,207 crore as on Q1 FY23. STL has fibre capacity of 50 million fibre kilometres and said that it will increase the cable capacity to 42 million fibre kilometres in FY23. It is also starting its manufacturing facility for optical fibre cables in the US, which is expected to go live in Q3 FY23. The company has reduced emissions of 15,000 tonnes of CO2 equivalent through various initiatives in the plants from FY21 to Q1FY23 and recycled 500,000 cubic meters of water from FY19 to Q1 FY23. With these ESG initiatives, STL is committed to achieve net zero emissions by 2030. Ankit Agarwal, managing director of STL, said Our global footprint, technology-led solutions, and effective supply chain management continue to be major contributors to our growth. With increased focus on efficiency and prudent capital management, we expect to sustain this positive momentum. As ubiquitous networks are built in this decade, we are fortunate to play a significant role in transforming billions of lives through digital networks. Sterlite Technologies is a leading end-to-end solutions provider for global digital networks. Powered by Capital Market – Live News