Sterlite Technologies Q2 FY27 Profit Hits ₹517 Crore

Record quarterly revenue and profit

Sterlite Technologies Ltd reported consolidated revenue of ₹2,529 crore for the quarter ended September 30, 2026, marking its highest quarterly revenue in the information provided. Revenue rose about 145% year-on-year from ₹1,034 crore in Q2 FY26. It also increased 32% sequentially from ₹1,910 crore in Q1 FY27. Net profit for Q2 FY27 stood at ₹517 crore, compared with ₹4 crore in the year-ago quarter. The reported year-on-year growth in net profit was 12,817%. Sequentially, net profit rose 162% from ₹197 crore in Q1 FY27.

The quarterly performance reflected higher revenue, improved operating margins and a one-time tariff refund gain. The company reported consolidated total income of ₹2,563 crore for the September quarter. Standalone total income was ₹1,469 crore and standalone net profit was ₹319 crore. The figures in this report are based on the results information provided. No explicit revenue or volume guidance was stated in the provided material.

Revenue growth across the quarter

The revenue increase was substantial on both annual and sequential comparisons. Q2 FY27 revenue was ₹1,495 crore higher than the ₹1,034 crore reported in Q2 FY26. It was also ₹619 crore above Q1 FY27 revenue of ₹1,910 crore. The information provided attributed the performance to demand for data-centre and optical connectivity products. It also referred to demand from hyperscalers and telecom operators.

For the first half of FY27, revenue reached ₹4,439 crore. This represented growth of 116% over H1 FY26, according to the reported figures. The first-half total includes revenue from the June and September quarters. The sequential revenue increase in Q2 indicates that the company built on the higher base reported in Q1. However, the provided information does not give quantitative revenue or volume targets for the coming quarters.

Margin expansion lifted operating performance

Operational EBITDA for Q2 FY27 was ₹685 crore, with an operational EBITDA margin of 27.1%. The operational margin expanded by 624 basis points from the preceding quarter. This measure excludes the one-time tariff refund gain reported during the quarter. The expansion in operating margin was an important contributor to the rise in profit after tax. It indicates that the increase in revenue was accompanied by stronger operating profitability.

Reported EBITDA was ₹846 crore, including the approximately ₹161 crore net gain from a US tariff refund. Reported EBITDA margin was 33.5%, compared with 20.8% in Q1 FY27 and 13.6% in Q2 FY26, based on the supplied information. The distinction between reported and operational EBITDA is material for comparison purposes. The tariff refund increased the reported EBITDA figure but was described as a one-time gain. Investors assessing recurring operating performance may therefore focus on the ₹685 crore operational EBITDA and 27.1% operational margin.

Profit increase included one-time gain

Profit before tax was ₹674 crore in Q2 FY27, compared with ₹257 crore in Q1 FY27 and a much lower base in Q2 FY26. The reported quarter-on-quarter increase in profit before tax was 162.26%. Profit after tax rose to ₹517 crore from ₹197 crore in the June quarter. Strong revenue growth and margin expansion were cited alongside the tariff refund gain as factors behind the result.

The size of the year-on-year PAT percentage reflects the low comparison base of ₹4 crore in Q2 FY26. Percentage growth should therefore be read with the underlying profit values in mind. The ₹517 crore Q2 FY27 profit was also above the preceding quarter's ₹197 crore. The reported result marked a sharp change from the modest profit recorded in the corresponding quarter of the previous year. The supplied material does not provide a further breakdown of tax expense or other non-operating items beyond the tariff refund reference.

Key Q2 FY27 financial figures

Order book reached a new high

Sterlite Technologies reported an open order book of ₹35,274 crore at the end of Q2 FY27. This compared with ₹7,687 crore at the end of FY26. The increase in the reported order book provides a measure of contracted or committed business available for execution. It also places the Q2 revenue increase within a larger reported demand pipeline. The supplied information does not provide a schedule for converting the order book into revenue.

The order book figure should not be treated as revenue for a single future quarter. Its execution can depend on customer schedules, project delivery and other operating factors. Still, the reported increase is relevant because it is materially larger than the FY26 closing figure. The company did not provide explicit financial guidance alongside the results information. As a result, the order book is a disclosed operating indicator rather than a quantitative forecast.

What the results mean for investors

The Q2 result shows a combination of higher sales and improved profitability. Revenue growth of 145% year-on-year was accompanied by an operational EBITDA margin of 27.1%. The reported EBITDA margin was higher at 33.5% because of the tariff refund gain. This difference is important when comparing the quarter with future periods. The ₹161 crore gain was identified as one-time, while the operational measure is intended to exclude that effect.

The company also reported that demand for optical connectivity products supported the quarter. Data-centre, hyperscaler and telecom-related demand were identified in the supplied information as relevant drivers. The record order book adds context to the reported demand environment. But no specific forecasts on revenue, volumes or margins were included in the material provided. Investors will therefore need to rely on future company disclosures for updates on execution and profitability.

Conclusion

Sterlite Technologies closed Q2 FY27 with revenue of ₹2,529 crore, operational EBITDA of ₹685 crore and net profit of ₹517 crore. The quarter included a 624-basis-point sequential expansion in operational EBITDA margin and an approximately ₹161 crore one-time tariff refund gain. Its open order book stood at ₹35,274 crore at quarter-end. The next company disclosures will be relevant for updates on order execution, revenue trends and any future outlook.