Sterlite Technologies posts record profit, secures ₹960 cr fiber deal
Business
Sterlite Technologies (STL) just landed a ₹960 crore contract to supply custom optical fiber cables for an Indian telecom operator.
The deal runs for two years, with an option to extend, and deliveries are set for FY28 and FY29.
This comes right after STL reported its best-ever quarter: net profit soared to ₹197 crore from just ₹10 crore last year, and revenue shot up 87% to ₹1,910 crore.
Sterlite net debt-free, FY27 margin 23%
STL's order book is at an all-time high of ₹18,618 crore, plus they're now net debt-free thanks to a successful fundraise.
With demand for faster internet and data centers rising, STL has bumped up its FY27 margin target to 23%.