[NSE: STLTECH], one of the industry's leading integrators of digital networks, today announced its financial results for the quarter ending June 30, 2022. The company reported a promising start to the year with revenues of INR 1,575 cr in Q1 FY23 owing to its widespread strength across all of its business operations. Nearly 62% of the total revenue came from its focus markets of US and Europe. Large orders from these markets enabled STL to build a healthy order book of INR 11,200 + cr, further establishing its leadership in these markets.
- Increased focus on Optical Business - STL has fibre capacity of 50 mn fkm and will increase the cable capacity to 42 mn fkm in FY23. It made great strides in the Optical Interconnect business providing fibre cable plus interconnect accessories as a solution to key customers in the US and Europe. It is also starting its world class manufacturing facility for optical fibre cables in the US, which is expected to go live in Q3 FY23.
- Expanded Global Services - STL is working with leading telcos across India and the UK for their 5G and FTTH deployments. In the UK, STL has partnered with leading telcos and alternate network providers and plans to ramp up execution and scale to enable service providers' plans to connect over 60 mn homes by 2030. To meet this massive demand, STL is also building a talent pool by training engineers at STL Academy.
Beyond optical and network services, STL has made advances in programmable Access and Software solutions. It recently introduced new radio, cloud-based billing and next-gen programmable FTTx solutions.
Financial highlights (INR Crore)
Commenting on the results, Ankit Agarwal, Managing Director, STL, said
|P&L (INR Cr.)
"Our global footprint, technology-led solutions, and effective supply chain management continue to be major contributors to our growth. 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."
About STL - Sterlite Technologies Ltd:
STL is one of the industry's leading integrators of digital networks providing All-in 5G solutions. Our capabilities across optical networking, services, software, and wireless connectivity place us amongst the top optical players in the world. These capabilities are built on converged architectures helping telcos, cloud companies, citizen networks, and large enterprises deliver next-gen experiences to their customers. STL collaborates with service providers globally in achieving a green and sustainable digital future in alignment with UN SDG goals.
STL has a global presence in India, Italy, the UK, the US, China, and Brazil. Read more
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