Sterlite Technologies reported INR 5.17 billion in net profit for the quarter ended Sept. 30, up from INR 40 million a year earlier, with a U.S. tariff refund boosting pretax earnings.
Revenue from operations climbed 145% to INR 25.29 billion from INR 10.34 billion in Q2 FY26. The unaudited consolidated results showed earnings before interest, taxes, depreciation and amortization (EBITDA) of INR 8.46 billion, compared with INR 1.41 billion a year earlier. Excluding the refund gain, EBITDA was INR 6.85 billion and its margin was 27.1%; the reported margin was 33.5%. The statutory auditors conducted a limited review and issued an unmodified conclusion.
The filing says U.S. Customs and Border Protection (CBP) returned import duties to Sterlite’s wholly owned subsidiaries Sterlite Technologies Inc. and Sterlite Optical Connectivity NA LLC. Those companies had paid the duties under the International Emergency Economic Powers Act. Sterlite said accounting for the refunds and an associated obligation increased quarterly pretax profit by INR 1.61 billion net.
Sterlite linked the revenue growth to demand for AI infrastructure and a larger contribution from integrated optical connectivity solutions. It reported a 24% optical connectivity attach rate during H1 FY27.
The company’s order book totaled INR 35,274 crore as of Sept. 30, about 4.6 times the INR 7,687 crore recorded at FY26 year-end. Sterlite also listed a $1.2 billion supply agreement with an unnamed hyperscaler for calendar years 2026 to 2030, and a $1.11 billion product award letter with a hyperscaler for FY27 to FY29. The company did not identify the counterparties.
For FY27–FY29, Sterlite plans to spend INR 10 billion a year on a 50% expansion of existing preform, fiber and cable capacity and a new pretermination solutions facility. Its FY29 targets include revenue of about INR 200 billion and an EBITDA margin above 30%. Managing Director Ankit Agarwal called it the company’s “best quarter yet.”
