ITI Q3 Results: Net loss narrows to ₹48.9 crore as revenue surges nearly 300%
ITI Ltd reported a net loss of ₹48.9 crore for Q3 FY24, an improvement from ₹101.3 crore last year. Revenue rose 299.73% to ₹1,034.5 crore, aided by key projects and new orders. However, its stock fell by 1.34% to ₹284.35 on the BSE.
ITI Q3 Results: State-run telecom equipment manufacturer ITI posted strong results for the quarter ended December 31, 2024 (Q3FY25). It reported a net loss of ₹48.9 crore for the quarter, significantly improving from the ₹101.3 crore loss recorded in the same quarter of the previous fiscal (Q3FY24).
Meanwhile, the company’s revenue from operations soared 299.73 percent year-over-year (YoY) to ₹1,034.5 crore, compared to ₹258.8 crore in the corresponding period last year. This sharp increase was driven by strong operational performance despite rising raw material costs.
At the operating level, ITI Ltd reduced its EBITDA loss to ₹10.6 crore in Q3 FY24, compared to a loss of ₹43.5 crore in the year-ago period.
Other Highlights
The company's financial performance was supported by key projects, including ASCON Phase IV, BSNL 4G rollout, Mahanet, Tanfinet, the NFS project, Gujnet, and the Indian Air Force's 3G-to-4G/5G network upgrade initiative.
Additionally, ITI Ltd has secured multiple new orders, including a Rs. 95 crore project from the Directorate of Geology & Mining, Government of Uttarakhand. The company, in collaboration with its consortium partner, also emerged as the lowest bidder for BharatNet project packages worth Rs. 4,559 crore.
Stock Price Trend
ITI Ltd’s stock ended the day at Rs. 286.15 on the BSE, down 0.28 percent. It fell 1.5 percent in the last 1 year. Moreover, it shed over 12 percent in February so far after a 16 percent declined in January 2025.
ITI Limited manufactures, sells, and services telecommunication equipment in India. Its offerings include telecom products like switching, transmission, and access solutions, along with smart energy meters, laptops, banking automation products, encryption devices, and defense communication systems. The company also provides IT solutions, network services, contract manufacturing, and turnkey defense projects. Founded in 1948, ITI is based in Bengaluru.
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