Sterlite Technologies Q2 results: loss at ₹14Cr, Revenue decreased by 5.42% YoY

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.