Q4FY22 Quarterly Result Announced for Sterlite Technologies Ltd.
Telecom Cables firm Sterlite Technologies declares Q4FY22 result: STL’s annual growth jumps 19%; reports highest ever revenue ~55 % of annual revenue from focus markets of US and EMEA Robust operational performance across businesses Margin softening due to inflationary pressures Diversified global customer wins - Netomnia, Openreach, Vocus, Meta Connectivity, Telecom Italia, PGCIL, Power & Tel and Giganet were some key customer wins for FY22 Industry-leading technology innovation - STL filed 57 patents in Q4, taking its global patent portfolio to 733. 60% of the patents filed in FY22 are in the core optical business Strong ESG focus - STL continued its ESG focus with social programs impacting 1.37 Mn people. In FY22 STL planted ~169,000 trees and committed to net-zero emissions by 2030. It also won prestigious awards including The Global CSR, and Green World Awards Best-in-class people practices - For the third year in a row, STL won the Great Place to Work certification, a significant milestone in its journey of building a world class, global organisation Commenting on the results, Ankit Agarwal, Managing Director, STL, said “During FY22, we delivered exceptional revenue growth and grew significantly in our focus markets of US and Europe. We continue to witness inflationary headwinds as we start FY23 and are taking actions to mitigate the impact on margins. We are clearly in a multi-year network build cycle. I am confident that with a solid leadership in place, we will double down on technology innovation, operational excellence, and customer centricity to achieve 25% growth and deliver on our larger purpose of transforming billions of lives through digital networks." Result PDF28-04-2022