Sterlite Technologies Q2 results: loss at ₹14Cr, Revenue decreased by 5.42% YoY

Sterlite Technologies Q2 results: Revenue decreased by 5.42% YoY & loss at 14Cr.

Livemint
Published31 Oct 2024, 11:56 AM IST
Sterlite Technologies Q2 Results Live
Sterlite Technologies Q2 Results Live

Sterlite Technologies Q2 Results Live : Sterlite Technologies declared its Q2 results on October 30, 2024, revealing a challenging quarter with a loss of 14 crore, a significant decline compared to the profit of 34 crore reported in the same period last fiscal year. The company's topline also decreased by 5.42% year-on-year, illustrating ongoing difficulties in the market.

Despite the year-on-year decline, Sterlite Technologies saw a quarter-on-quarter revenue growth of 16.01%, showcasing some resilience in their operations. This growth comes alongside a notable drop in Selling, General & Administrative expenses, which fell by 2.48% sequentially and 18.93% on a yearly basis.

The operating income experienced an impressive increase of 3000% compared to the previous quarter, although it still decreased by 51.56% year-on-year. Furthermore, the Earnings Per Share (EPS) for Q2 was reported at -0.26, reflecting a sharp decline of 136.71% when compared to the same quarter last year.

In terms of stock performance, Sterlite Technologies has faced significant challenges, recording a -0.49% return over the past week, -13.87% over the last six months, and -17.07% year-to-date. The company currently holds a market capitalization of 5776.41 crore, with a 52-week high of 162.9 and a low of 109.5.

Analyst sentiment remains mixed, as of October 31, 2024, out of three analysts covering Sterlite Technologies, one has given a 'Sell' rating while two analysts recommend a 'Buy' rating, indicating varying perspectives on the company's future performance.

Sterlite Technologies Financials

PeriodQ2Q1Q-o-Q GrowthQ2Y-o-Y Growth
Total Revenue14131218+16.01%1494-5.42%
Selling/ General/ Admin Expenses Total197202-2.48%243-18.93%
Depreciation/ Amortization8382+1.22%85-2.35%
Total Operating Expense13511216+11.1%1366-1.1%
Operating Income622+3000%128-51.56%
Net Income Before Taxes-16-60+73.33%38-142.11%
Net Income-14-48+70.83%34-141.18%
Diluted Normalized EPS-0.26-0.97+73.18%0.71-136.71%
Stay updated on quarterly results with our results calendar

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First Published:31 Oct 2024, 11:56 AM IST
Business NewsCompaniesCompany ResultsSterlite Technologies Q2 results: loss at ₹14Cr, Revenue decreased by 5.42% YoY

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