Sterlite Technologies Q2 FY27 Results: Consolidated Net Profit ₹517 Crore on Total Income of ₹2,563 Crore
Earnings
optical connectivity equipment
Blacklitt Research4 min read
Sterlite Technologies (NSE: STLTECH) reported consolidated total income of ₹2,563 crore and net profit of ₹517 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹1,469 crore and net profit of ₹319 crore, it said in a filing on 23 Oct 2026.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹2,563 crore, up 145.0% YoY and 33.4% QoQ
Net profit and EPS: ₹517 crore; basic EPS ₹10.32, against ₹0.08 a year earlier
One-time gain: ₹161 crore net gain from a US tariff refund, included in EBITDA
Order book: ₹35,274 crore at quarter end, per the company
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,469 crore, up 145.7% YoY and 50.2% QoQ
Net profit and EPS: ₹319 crore; basic EPS ₹6.37, against a loss of ₹0.05 per share a year earlier
Finance costs: ₹50 crore, 3.4% of total income
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,563
1,046
+145.0%
1,922
+33.4%
Revenue from operations
2,529
1,034
+144.6%
1,910
+32.4%
Other income
34
12
+183.3%
12
+183.3%
517
4
n/a
197
+162.4%
Profit before tax
674
6
n/a
257
+162.3%
Finance costs
63
55
+14.5%
55
+14.5%
Depreciation
109
80
+36.3%
85
+28.2%
Tax expense
157
2
n/a
60
+161.7%
Net profit margin
20.17%
0.38%
+19.79 pp
10.25%
+9.92 pp
EPS, basic (₹)
10.32
0.08
n/a
4.03
+156.1%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit rose faster than total income. Consolidated net profit was ₹517 crore against ₹197 crore in the previous quarter, up 162.4%, while total income rose 33.4%. The notes say profit before tax for the quarter is higher by ₹161 crore (net) after recognition of a US tariff refund received by two US subsidiaries, with the resulting obligation; the duties had been paid under IEEPA and expensed.
Tax took ₹157 crore, or 23.3% of profit before tax of ₹674 crore, against ₹60 crore in the previous quarter and ₹2 crore a year earlier. The notes split it into current tax of ₹142 crore and deferred tax of ₹15 crore. Other income of ₹34 crore is 5.0% of profit before tax.
Depreciation of ₹109 crore includes an impairment charge of ₹22 crore on property, plant and equipment, according to note 10. Finance costs of ₹63 crore are 2.5% of total income. Profit before tax was ₹6 crore a year earlier, so the year-on-year percentage change in profit is not a useful comparison.
The company calls revenue of ₹2,529 crore its highest ever, and says EBITDA of ₹846 crore includes the ₹161 crore one-time gain. Consolidated net profit of ₹517 crore is ₹198 crore above standalone net profit of ₹319 crore, and the notes give no breakdown of that gap.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,469
598
+145.7%
978
+50.2%
Revenue from operations
1,399
559
+150.3%
929
+50.6%
Other income
70
39
+79.5%
49
+42.9%
319
-2
n/a
125
+155.2%
Profit before tax
425
-3
n/a
169
+151.5%
Finance costs
50
35
+42.9%
36
+38.9%
Depreciation
64
42
+52.4%
46
+39.1%
Tax expense
106
-1
n/a
44
+140.9%
Net profit margin
21.72%
-0.33%
+22.05 pp
12.78%
+8.93 pp
EPS, basic (₹)
6.37
-0.05
n/a
2.56
+148.8%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income of ₹1,469 crore is up 145.7% from ₹598 crore a year earlier, and revenue from operations of ₹1,399 crore is up 150.3%. Profit before tax of ₹425 crore compares with a loss before tax of ₹3 crore in Q2 FY26, and net profit of ₹319 crore compares with a loss of ₹2 crore.
Other income of ₹70 crore is 16.5% of standalone profit before tax, and tax of ₹106 crore is 24.9% of it. Standalone depreciation of ₹64 crore includes an impairment charge of ₹16 crore, according to note 10.
Across the group, the QIP allotment issued 25,728,500 shares at ₹583.01 each, raising ₹1,500 crore. Promoter shareholding fell from 44.44% at 31 March 2026 to 42.29%, and the company says it does not expect a material impact from the change. The company reports a net cash balance of ₹703 crore, and CRISIL has upgraded the long-term rating to AA/Stable from AA-.
The US litigation is the main open item. The court confirmed a total award of US$ 101.25 million against Sterlite Technologies Inc., the company has appealed and deposited a bond of US$ 41.53 million, and the filing says the ultimate financial implications cannot be ascertained at this stage. The auditors draw attention to the matter without modifying their conclusion.
Inference
For shareholders, the QIP raised ₹1,500 crore and consolidated net worth stood at ₹4,174 crore at 30 Sep 2026, against ₹1,966 crore at 31 March 2026. The notes give a post-ESOP share count of 514,057,433 shares, and basic EPS for the quarter is ₹10.32 as printed.
The obligations side includes the US award and bond, and the one-time ₹161 crore gain sits inside a quarter the company describes as its highest for revenue and EBITDA. Not known from the filing: whether the tariff refund recurs, the outcome of the US appeal, and what drives the consolidated tax charge of ₹157 crore on ₹674 crore of profit before tax.
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STLTECHSterlite Technologies Ltd.
