Sterlite Tech rises after net loss narrows to Rs 14 crore in Q2

Sterlite Technologies added 3.36% to Rs 118.60 after the company's consolidated net loss to Rs 14 crore in Q2 FY25 from Rs 48 crore in Q1 FY25.

Revenue increased by 16.01% sequentially to Rs 1,413 crore.

EBITDA increased by 62.37% to Rs 151 crore in Q2 FY25 from Rs 93 crore in Q1 FY25. EBITDA margin was 10.7% in Q2 FY25 as against 7.7% in Q1 FY25.

The company posted a pre-tax loss of Rs 16 crore in Q2 FY25. Pre-tax loss for Q1 FY25 was Rs 60 crore.

Dynamically navigating the temporary demand softness, STL extensively focused on its key priorities of customer centricity, product innovation, and cost leadership. As a result, the company saw sales gaining momentum for the second consecutive quarter in both - Optical Fibre Cable (OFC) and Optical Connectivity (OC) portfolios.

Combining its expertise in these two portfolios, STL co-developed solutions for its customers, reporting a 22% Optical Connectivity attach rate in the current quarter. STL also won its first BEAD order in the US and a large deal with Netomnia in the UK.

Some other significant wins in H1 FY25 include Archtop Fiber in the US, Du Telecom in MEA, and Connexin in the UK.

Ankit Agarwal, managing director, STL, said: As a company, we strongly believe in the power of persistent efforts and strong fundamentals. Our deep partnerships with customers, approach to building cable plus connectivity solutions, and conscientious efforts on costs have started to show in our performance. As demand returns to its normal course, we are fully geared up for long-term success.

Sterlite Technologies is a leading global optical and digital solutions company providing advanced offerings to build 5G, rural, FTTx, enterprise and data centre networks.

Powered by Capital Market - Live News