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
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1413 | 1218 | +16.01% | 1494 | -5.42% |
| Selling/ General/ Admin Expenses Total | 197 | 202 | -2.48% | 243 | -18.93% |
| Depreciation/ Amortization | 83 | 82 | +1.22% | 85 | -2.35% |
| Total Operating Expense | 1351 | 1216 | +11.1% | 1366 | -1.1% |
| Operating Income | 62 | 2 | +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% |
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