Digital solutions company STL logs Rs 6,925 cr in revenue, 51% PAT growth
New Delhi, May 17 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.
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.