Optical and digital solutions company STL on Wednesday said it reported record revenue of Rs 6,925 crore, growing 27 per cent over the previous year along with 29 per cent in EBITDA (Rs 931 crore) and 51 per cent growth PAT (Rs 245 crore).
STL reported a strong 46 per cent revenue growth in its optical business along with a 93 per cent EBITDA increase in its financial results for the year ended March 31.
In India, STL worked with top telecom operators for their pan-India fibre rollouts, winning orders worth Rs 1,000 crore in FY23.
"The industry continues to show significant long-term growth and we are excited about co-creating meaningful solutions with our customers. We believe that, going forward, our strong leadership, customer focus, technology innovation, and sustainability will be the cornerstones of our success," said Ankit Agarwal, Managing Director, STL.
Last year, STL had shared its strategic intent to drive focused growth, which it followed through this year, with strong execution of the outlined priorities.
In FY23, STL received the 'CMMI level 5' certification for its India operations and achieved operational break even in the UK.
From Adani Wilmar to Havells India: Q4 results to watch out for today
From Ambuja Cements to Tata Steel: Q4 results to watch out for today
NIM expansion, loan growth: Top 5 things to track in SBI's Q4FY23 results
Congress will emerge victorious: Party leaders on Karnataka poll counting
Karnataka elections 2023: BJP confident; Cong says will see after results
SKF India's Q4 consolidated profit after tax rises 12% to Rs 122 cr
Burger King's India operator posts bigger loss as costs of essentials rise
GlaxoSmithKline Pharma's pre-tax profit falls 8% on govt pricing caps
Deepak Fertilisers' Q4 profit after tax declines 9% to Rs 257 crore
GlaxoSmithKline Pharma posts net profit at Rs 133 crore in Jan-Mar quarter
To unlock future growth potential of this business, STL's Board of Directors has approved the demerger of the Global Services business into a separate legal entity, on a going concern basis.
The decision, once approved by the shareholders and regulators, will create an industry-leading business that will drive large-scale network and IT infrastructure projects with sharp customer focus and agility, said the company.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)