Page 2 - Sterlite Technologies

Sterlite Tech soars 9% on entering into strategic partnership with Lumos

Sterlite Technologies said that it has been strategically engaged in co-creating fiber and optical connectivity solutions suited for Lumos

Sterlite Tech Q3 results: Loss at Rs 57 crore amid optical demand headwinds

Optical and digital solutions company Sterlite Technologies (STL) on Thursday reported a loss of Rs 57 crore on a consolidated basis in December quarter 2023-24, hit by ongoing optical demand headwinds, especially in the US and parts of Europe. The company had posted a net profit of Rs 51 crore in the year-ago period. Revenue from operations was Rs 1,322 crore in Q3FY24, the company said in a regulatory filing. Revenue stood at Rs 1,883 crore in the year-ago period. EBITDA declined sequentially to Rs 109 crore from Rs 216 crore. "The company reported a sequential decline in revenue and EBITDA in Q3 FY24 amidst ongoing optical demand headwinds, especially in the US and parts of Europe," STL said in a release. Ankit Agarwal, Managing Director of STL said the downturn is temporary. While this downturn is temporary, the cost base and capabilities that we have built around product design, quality, manufacturing presence, and sustainability will reap benefits far into the future," Agar

Sterlite Technologies expects growth in sales volume to return next fiscal

Broadband gear maker Sterlite Technologies expects optical business sales volume in the US to decline this fiscal due to inventory build-up and growth to return in the next fiscal, Managing Director Ankit Agrawal said. Speaking to PTI at the India Mobile Congress, Agrawal said that the company has about 20 per cent market share in Europe and between 10 to 12 per cent market share in the US. "We do see some inventory build-up in North America. We do expect probably another six to nine months for that inventory to reduce and then the demand to come back. Overall for this year, we do expect some volume decline. And probably from next year onwards, the volumes will come back," Agrawal said. STL in the September 2023 quarter posted a 20 per cent decline in consolidated profit at Rs 32 crore. Overall, the company has projected a dip in revenue during the current fiscal year but expects increased sales in EMEA (Europe, Middle East and Africa), India and Asia Pacific markets to fill the ..

Sterlite Technologies Q1 results: Net profit rises 156% to Rs 46 crore

The company's revenue rose 2 per cent to Rs 1,522 crore in Q1FY24, up from Rs 1,487 crore

Customers prioritising network build-outs, 5G driving growth: Sterlite Tech

Optical and digital solutions company Sterlite Technologies is seeing a strong commitment and demand for fibre, as customers across markets continue to prioritise network build outs, including in India, where massive 5G infrastructure deployments are taking place. Sterlite Tech Managing Director Ankit Agarwal said the company is "quite positive" about the India market prospects, given the rapid pace of fiberisation, and expectation of 5G scaling up from 50 million users to 250 million users in the coming years. "We are excited with the progress we are making, and are positive about mid-to-longer-term opportunities for our sector. In our conversation with customers that commitment remains in terms of their network plans," Agarwal told PTI. At a macro level, STL continues to see strong focus from customers, largely telcos, internet service providers and data centres players. "They continue to have strong commitment to 5G, Fibre-to-the-home (FTTH) and enterprises," he said. In India

STL among world's first companies to develop 180 micron optical fibre

STL among the world's first companies to develop 180 micron optical fibre

Demand for optical fibre strong despite macro headwinds: Sterlite Tech

Digital solutions company Sterlite Technologies has said investment commitment of global customers for optical fibre remains strong despite macroeconomic headwinds and that telcos and hyperscalers will continue to spend to gain a market edge. According to Sterlite Tech Managing Director Ankit Agarwal, there is no change in the company's production scale-up plans or targets as demand for its product portfolio is robust. "In our key accounts, most of our customers are public, and their investment plans are well known. We track it and see fairly strong capex investment plans over 2-3 years and for some even up to the next 5 years," Agarwal told PTI. He said customers, both telecom and hyperscalers, continue to spend with a focus on innovation and technology. That demand is reflected in the company's order book of Rs 12,054 crore. The term hyperscalers refers to large cloud service providers, whose offerings include computing and storage at an enterprise scale. STL is also positive on

Sterlite Technologies posts 13.6% rise in Dec quarter profit to Rs 50 cr

Optical and digital solutions company Sterlite Technologies on Friday reported a net profit of Rs 50 crore for the December 2022 quarter against a loss of Rs 138 crore a year ago. The loss in Q3 FY22 included a one-time provision, a top company official explained. The revenue from operations for the just-ended quarter stood at Rs 1,882 crore, which on a year-on-year basis was about 46 per cent higher than the Q3 FY22. In a statement on the Q3 scorecard, STL said it demonstrated a sharp focus on growth areas, operational efficiencies and strategic capital allocation, resulting in strong financial performance. "Company revenues grew by 46 per cent on a year-on-year basis, and 28 per cent on YTD (year-till-date) basis, and EBITDA increased by 17 per cent on a YTD basis," STL said. It recorded a net profit of Rs 50 crore in Q3 FY23, a turnaround compared to the losses of Rs 138 crore in the same period the previous year. Seen sequentially, the net profit was up 13.6 per cent from Rs

Stocks to Watch: Suzlon, RIL, ONGC, Gas, Airtel, HFCL, Adani Enterprises

Stocks to Watch Today: Domestic oil & gas related stocks are likely to be in focus as the government reduced tax on the former, while raised prices of natural gas to record levels.

Indices fall for 5th day; Sensex dips 38pts, Nifty at 17K after choppy day

CLOSING BELL: Among sectors, defensives rose in trades today with the Nifty IT, FMCG, and Pharma indices advancing between 0.6 per cent and 0.9 per cent

Sterlite Tech posts consolidated loss of Rs 20 crore in June quarter

Broadband technology company Sterlite Technologies on Monday posted a consolidated loss of Rs 20 crore in the June 2022 quarter. The company said it had recorded a profit of Rs 116 crore in the same period a year ago. The consolidated revenue from operations of Sterlite Technologies increased to Rs 1,575 crore during the reported quarter compared to Rs 1,316 crore in the corresponding quarter last year. Nearly 62 per cent of the total revenue came from its focus markets of the US and Europe. The total order book of the company stood at Rs 11,200 crore at the end of the reported quarter. "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," STL managing director Ankit Agarwal said in a statement. The company in July 2021 signed an agreement to acquire 100 per cent stake in

Sterlite Technologies reports consolidated loss of Rs 22 cr in Q4

Broadband technology firm Sterlite Technologies on Thursday reported a consolidated loss of Rs 22.44 crore in the fourth quarter ended March 31, 2022.

Sterlite Technologies zooms over 17% amid heavy volume on stake sale buzz

The company's board is scheduled to meet on April 28 to consider a proposal for raising funds

Telecom infra provider ATC India appoints Sandeep Girotra as CEO

Telecom infrastructure provider ATC India on Wednesday announced the appointment of Sandeep Girotra as its chief executive officer (CEO)

Sterlite Technologies eyes 20% biz growth in key markets in FY23

Digital networks integrator Sterlite Technologies expects about 20 per cent growth in business across key markets of the US, Europe and India in FY2023 amid global scale-up of networks and 5G build outs, its managing director Ankit Agarwal has said. With a notable drop in COVID-19 cases and easing of curbs, the company is encouraging employees to 'return to office' and has seen positive responses across offices in both India and globally. Its factories are running at 100 per cent capacity with all precautions in place, Agarwal said, adding that physical attendance at offices - currently on rotation basis - too will accelerate fully in the coming weeks with adequate safeguards. The company, which has done a string of acquisitions in the past, continues to be on lookout for small buy outs for niche capabilities and technology "because the market itself is growing and expanding", Agarwal told PTI. On the business side, the company is seeing a positive momentum as markets like the US,

Sterlite Technologies bags around Rs 170 crore deal from Power Grid

The company said it has already been supplying optical fibre cables and has developed a communication network for Power Grid Corporation of India Ltd

Sterlite Technologies unveils its 5G-from-India offering at IMC 2021

The company expects that the end-to-end nature of solutions will fundamentally alter the game for super-fast and high quality 5G deployments

Sterlite Technologies unveils 5G-from-India offering at IMC 2021

Digital networks integrator Sterlite Technologies Ltd (STL) on Friday unveiled its 5G-from-India offering at the India Mobile Congress event

Sterlite Tech Q1 profit jumps multi-fold to Rs 116 cr as Covid curbs eased

Sterlite Technologies posted a multi-fold jump in its consolidated profit at Rs 115.75 crore in the first quarter ended June 2021, helped by business gains post easing of Covid restrictions.

Sterlite Tech to acquire UK-based network integration firm Clearcomm Group

Broadband technology company Sterlite Technologies on Thursday said it will acquire Clearcomm Group, a leading Network Integration company in UK, to further globalise its system integration business