Telecom cables firm Sterlite Technologies announced Q3FY23 results: Q3FY23: Revenue increases by 28%, EBITDA by 17% on year till date (YTD) basis Q3FY23 revenue at Rs 1,882 crore vs Q2FY23's Rs 1,683 crore Q3FY23 EBITDA at Rs 234 crore vs Q2FY23's Rs 252 crore 73% revenue growth in global markets on a YTD basis Optical business revenues zoom 1.8X, EBITDA 3X on a YoY basis Commenting about the company's performance, Ankit Agarwal, Managing Director, STL, said “Our performance this quarter has been strong. Sharp focus on cash and profitability, and calibrated exits from sub-scale businesses have poised us for long-term growth. I am excited about the market momentum and the pace of customer wins in our key markets. As we look ahead, I see technology innovation and R&D; playing a pivotal role in our journey to become one of the top optical players in the world. Quarter four and beyond, we will continue to prioritise growth areas, optimise our capital structure, and execute with discipline. Result PDF
Conference Call with Sterlite Technologies Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
Telecom cables company Sterlite Technologies announced Q2FY23 results: STL reported profitable growth with revenues of Rs. 1,768 crore, up by 12% QoQ and 17% YoY. 70% of revenue came from the US and Europe. A robust order book of Rs. 11,697 crore further cemented STL’s position as a global partner for 5G and FTTH. Expressing confidence in the company’s growth trajectory, Ankit Agarwal, Managing Director, STL said “The world has now recognised broadband as a basic necessity. 5G, FTTH, and Rural connectivity efforts are all coinciding to connect the remaining 40% of the world. Fiberisation is going to be front and centre in this decade of network creation and STL is fully prepared to meet this demand with global capacities, great talent and technology-led solutions. We are constantly innovating to build these networks fast and in the most sustainable way.” Result PDF