STL's Strategic Pivot: Eyeing Data Centre Growth

Sterlite Technologies Ltd (STL) reported a consolidated loss of Rs 14 crore for Q2 2024, shifting from a Rs 32 crore profit the previous year. With an order book of Rs 8,630 crore, STL is focusing on data center growth, aiming to make it 25% of revenues in the medium term.

Sterlite Technologies Ltd (STL) has recorded a consolidated loss of Rs 14 crore for the second quarter ending September 30, 2024, marking a significant turnaround from a net profit of Rs 32 crore in the corresponding period last year.

The firm's revenue from operations saw a slight dip, reducing to Rs 1,413 crore from Rs 1,494 crore recorded in the September 2023 quarter. STL's investor presentation revealed an open order book totaling Rs 8,630 crore, with Rs 1,633 crore due in the current financial year and the remaining Rs 6,997 crore slated for fiscal year 2026 and beyond.

In a statement, Managing Director Ankit Agarwal emphasized the company's commitment to leveraging persistent efforts and strong fundamentals to boost performance amid returning demand. STL is strategically investing in data center capacities, projected to nearly double by 2026, and aims to have the data center and enterprise suite of products account for 25% of its revenue in the medium term.

(With inputs from agencies.)