PR Newswire
LONDON, Nov. 4, 2022
LONDON, Nov. 4, 2022 /PRNewswire/ -- STL (NSE: STLTECH), one of the industry's leading integrators of digital networks, today announced its financial results for quarter ended 30 September 2022. STL reported profitable growth with revenues of USD 226 Mn, up by 12% Q-o-Q and 17% Y-o-Y. Nearly 70% of revenue came from the US and Europe. A robust order book of USD 1,492 Mn further cemented STL's position as a global partner for 5G and FTTH.
5G, FTTH and data centre roll-outs are picking up pace globally and optical demand is on a strong upward trajectory, with the optical fibre cable market size expected to reach ~$10 Bn by 20241. India's much awaited 5G roll-out has started and will strongly hinge on fibre with telcos planning to lay ~2,00,000 cable kilometers and spend between ~$1.5 Bn to $2.5 Bn2 on fibre roll-out in next 2 to 3 years. STL has already made strategic investments for this demand cycle and is playing a pivotal role in this ongoing decade of network creation, both in India and internationally.
STL is progressing towards becoming one of the top 3 optical players globally. Expressing confidence on 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."
Some key performance highlights
Key financial highlights
STL continued the positive momentum while focusing on prudent capital allocation and profitability. The company recently divested IDS - a UK-based niche data centre player to rebalance its portfolio.
Financial Parameters ARIVA.DE Börsen-Geflüster(USD Mn) | Q2'FY23 | Q1'FY23 | Q-o-Q growth |
Revenue | 226 | 201 | 12 % |
EBITDA | 26 | 15 | 70 % |
PAT (after minority) | 6 | -3 | - |
USD/INR exchange rate used for conversion - 78.4 |
Commenting on STL's performance, Ankit Agarwal, Managing Director, STL, further added, "We hold our purpose of transforming billions of lives very close to our hearts and are very excited about this opportunity to connect the unconnected. This quarter saw one of the highest order intakes of USD ~408 Mn. I really want to congratulate the entire team for delivering such a strong performance in a complex operating environment. There is good traction for our solutions and we believe that our focused efforts will create stakeholder value and bring us closer to being amongst the top 3 optical players globally."
About STL - Sterlite Technologies Ltd:
STL is one of the industry's leading integrators of digital networks that helps telecom service providers, cloud companies, citizen networks and large enterprises deliver enhanced experiences to their customers. Read more, Contact us. stl.tech |Twitter | LinkedIn | YouTube
1 Source: CRU
2 Source: STL estimates
Photo: https://mma.prnewswire.com/media/1938327/STL_Q2_FY23.jpg
Logo: https://mma.prnewswire.com/media/876464/Sterlite_Technologies_STL_New_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/stl-revenues-up-17-progressing-towards-global-optical-leadership-301669022.html
Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.