Sterlite Technologies Limited (STL) has announced its financial results for the quarter ended (QE) December 31, 2022. The company demonstrated sharp focus on growth areas, operational efficiencies and strategic capital allocation resulting in strong financial performance. It posted revenues of Rs 18.82 billion, thereby registering growth of 12 per cent on quarter-on-quarter (Q-o-Q) basis and whopping 46 per cent growth on year-on-year (Y-o-Y) basis. Meanwhile, the earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin for the company grew 8 per cent on Q-o-Q basis at 2.52 billion.
For nine months period ended December 31, 2022, the revenues of the company stood at Rs 50.50 billion as against Rs 39.36 billion for the nine months period ended December 2021. Besides, the company reported EBITDA of Rs 6.51 billion against Rs 5.57 billion for the same period a year ago. STL is constantly investing in fundamental capabilities and research and development (R&D) to pack in more capacity and innovation into these optical network builds. The company is driving towards scalable growth in the optical business and sustainable revenue streams in the global services business.
Commenting on 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.