Sterlite Technologies Posts 517 Crore Rupees in Profit as Quarterly Earnings Jump 162%
Key Facts
Sterlite Technologies said consolidated net profit was 517 crore rupees in the quarter ended September 2026, compared with 4 crore rupees in the year-earlier period. Sequentially, profit rose 162% from 197 crore rupees in the June 2026 quarter. The company said the second quarter of fiscal 2027 was its best ever for revenue and EBITDA. Its managing director said: "The second quarter of fiscal 2027 was our best quarter yet, with the highest revenue and EBITDA in the company's history." The results reflect broader growth in revenue and operating profit alongside rising demand for optical connectivity products.
Operating revenue surged 145% year over year to a record 2,529 crore rupees, from 1,034 crore rupees in the corresponding quarter of fiscal 2026. Revenue rose 32% from the June quarter, when it was 1,910 crore rupees. EBITDA increased sixfold to 846 crore rupees from 141 crore rupees a year earlier, and more than doubled from 397 crore rupees in the previous quarter. The company said revenue and EBITDA reached all-time highs. Net profit, meanwhile, was compared with a very low year-earlier base of 4 crore rupees, while the quarterly comparison showed an increase from 197 crore rupees.
Coverage attributed the profit increase to strong demand for optical connectivity products, improved margins and a one-time tariff refund gain. The company said AI infrastructure investment supported the results, alongside demand from hyperscale data center operators and telecom companies. The managing director said the results "reflect the strength of demand for AI-ready digital infrastructure." The attach rate for optical connectivity solutions reached a record 24% in the first half of fiscal 2027. In the June 2026 quarter, data center and cloud customers accounted for 21% of the revenue mix, compared with about 1% in fiscal 2026, according to data cited by Reuters via Zerodha Markets.
The company's open order book reached a record 35,274 crore rupees at the end of September 2026, and it said its balance sheet was net debt-free during the quarter. That was up from an order book of 18,618 crore rupees at the end of the June quarter, when it equaled about 2.4 times group revenue of 4,745 crore rupees for the year ended March 2026. The company said its order book provides visibility into future revenue. It signed a long-term supply agreement worth $1.2 billion, equivalent to about 11,500 crore rupees, with a hyperscaler to supply optical connectivity products from 2026 to 2030. It also received a letter of award for products worth $1.11 billion, or about 10,500 crore rupees, from another company for supply between fiscal 2027 and fiscal 2029.
Other contracts include an agreement worth $288 million, about 2,700 crore rupees, to supply high-density fiber-optic cables during 2027–2029, and an agreement worth $210 million, about 2,000 crore rupees, with a telecom infrastructure company for the same period. The company also signed a multiyear supply agreement worth 960 crore rupees with an Indian telecom operator. On 3 September 2026, the board approved a 3,000 crore rupee program to expand capacity at an existing facility by about 50% by the end of fiscal 2029. Existing capacity utilization was about 70% when the program was announced. Supply schedules under the announced contracts extend through 2030, while the planned capacity increase will allow the company to expand manufacturing capacity over the coming years.