Sterlite Tech Reports Q2 Loss of Rs 14 Crore | Business News

New Delhi, Oct 30 (PTI) Broadband technology firm Sterlite Technologies Ltd (STL) has posted a consolidated loss of Rs 14 crore for the second quarter ended September 30, 2024.

STL had posted a net profit of Rs 32 crore for the same period a year ago.

Revenue from operations declined marginally to Rs 1,413 crore from Rs 1,494 crore in September 2023 quarter.

STL in its investor presentation said the company has an open order book of Rs 8,630 crore, of which Rs 1,633 crore is due in the current fiscal and orders worth Rs 6,997 crore are spread over fiscal year 2026 and beyond.

"As a company, we strongly believe in the power of persistent efforts and strong fundamentals. Our deep partnerships with customers, approach to building cable plus connectivity solutions, and conscientious efforts on costs have started to show in our performance. As demand returns to its normal course, we are fully geared up for long-term success," Managing Director Ankit Agarwal said.

STL expects to ride on investments in growth opportunities in data centre capacities, which are projected to almost double to 1800 megawatt (MW) by 2026 from 950 MW in 2024.

The company has set an ambition to achieve around 25 per cent of its revenue from the data centre and enterprise suite of products in the medium term.