Sterlite Technologies Annual Profit Drops by 77.5%, Posts 22.44 Cr Loss for Q4 FY22
Pune-headquartered Sterlite Technologies Limited (STL) [BSE: 532374, NSE: STRTECH], a major Indian digital networks integrator, posted its financial results for the last quarter of FY-22.
Sterlite Technologies Ltd.’s Consolidated Financials for Q4 FY-22
STL’s Year-on-Year Performance
Sterlite Technologies Ltd. posted a Net Revenue of Rs 1,581.97 crore in Q4 of FY-22, which is 7.25% higher than the company’s revenue for Q4 of FY-21, which was Rs 1,475.01 crore.
The Net Revenue for all all of FY-22 stood at Rs 5,754.26 crore against Rs 4,825.18 crore for whole years of FY-21, which translates to a 19.25% increase YoY.
STL’s profit fell by 118.09% YoY, as it reported a loss of Rs 22.44 crore in the financial quarter ending on 31st March 2022. The company’s profit was Rs 124 crore during the same period in the previous fiscal / Q4 FY21.
Sterlite Tech also clocked a consolidated profit of Rs 61.95 crore for FY-22, which is a 77.5% slump from the Rs 275.47 crore profit reported for FY-21.
STL’s Performance Comparison Q3 FY-22 vs Q4 FY-22
STL’s Net Revenue increased by 16.7% in Q4 of FY 22, up from Rs 1,355.53 crore reported for the financial quarter ending 31st December 2021 / Q3 FY22.
In the third quarter of FY-22, the company had reported a loss of Rs 137 crore, which in Q4 FY22 has reduced by 83.62% to Rs 22.44 crore loss.
Highlights of STL’s Q4 FY-22 Results
Commenting on the results, STL’s Managing Director, Ankit Agarwal, said that the company has delivered significant revenue growth during FY-22. He added that the industry is facing the effect of inflation, and the company is taking mitigatory steps to safeguard its margin. “I am confident that with a solid leadership in place, we will double down on technology innovation, operational excellence, and customer centricity to achieve 25% growth and deliver on our larger purpose of transforming billions of lives through digital networks”, Mr Agarwal said.
The company’s Order Book stood at Rs 11,639 crore at the end of Q4 FY-22, against Rs 10,754 crore at the end of Q4 FY-21, and Rs 11,700 crore at the end of Q3 FY-22.
About Sterlite Technologies Limited: STL is an Indian digital network solutions provider – providing digital telecom products, optic fibre cables and networks integration. The company recently introduced its ‘All-in’ 5G solutions, covering wireless as well as Optical Fiber Cable aspects of Private 5G network deployment. The company has manufacturing facilities in India, Italy, China and Brazil.
