Telecom Cables company Sterlite Technologies announced Q2FY24 & H1FY24 results: Q2FY24: In Q2FY24, the company reported revenue of Rs 1,494 crore, showing a 2% decrease compared to the previous quarter when revenue was at Rs 1,522 crore. EBITDA for Q2FY24 stood at Rs 216 crore, indicating an 8% decrease from the EBITDA of Rs 235 crore in Q1FY24. H1FY24: For H1FY24, the company's revenue amounted to Rs 3,016 crore, which was lower than the revenue of Rs 3,171 crore recorded in H1FY23, representing a 5% YoY decline. In H1FY24, the EBITDA reached Rs 451 crore, showing a 13% increase compared to the EBITDA of Rs 401 crore in H1FY23. Result PDF
Telecom Cables company Sterlite Technologies announced Q1FY24 results: STL reported Rs 1,522 crore in revenues and a robust open order book of Rs 10,938 crore across its three business units- Optical Networking, Global Services, and Digital. Amidst global headwinds, STL delivered a strong 42% YoY EBITDA growth on the back of a relentless focus on operational efficiencies, while its PAT surged by an impressive 156%. The company also delivered operational profitability with a steady EBITDA percentage of 15.4% in Q1FY24. Despite a 3.4% decline in the Global OFC demand in H1CY23, STL maintained its 11% global (ex-China) OFC market share, reflective of its reputation as a preferred partner for its customers. Commenting on the company’s quarter performance, Ankit Agarwal, Managing Director, STL, said, “Amidst global challenges, we continue to drive our market presence and pursue our ambition to be among the world's top 3 optical companies. We are focused on long-term, sustainable growth and aim to deliver a 7% to 9% revenue increase this financial year while targeting a net debt to EBITDA ratio of less than 2.5 to further strengthen our financial position. With a proactive approach and an exceptional team, we embrace the future with optimism and stay agile to seize new opportunities in the dynamic market landscape.” Result PDF