ITI Q3 Results | Net profit narrows to ₹49 crore as revenue jumps on strong operational performance

State-run telecom product maker ITI Ltd on Thursday (February 13) reported a net loss of ₹48.9 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, ITI posted a net loss of ₹101.3 crore, the company said in a regulatory filing.

The company’s revenue from operations surged 299.73% to ₹1,034.5 crore from ₹258.8 crore in the corresponding period of the previous fiscal, driven by strong operational performance despite increased raw material expenses.

At the operating level, EBITDA loss stood at ₹10.6 crore in the third quarter of this fiscal over a loss of ₹43.5 crore in the corresponding period in the previous fiscal.

Also Read: SKF India Q3 Results | Net profit skids 17% but revenue up 15%The major contributions to the company’s performance in FY24 include projects like ASCON Phase IV, BSNL 4G Rollout, Mahanet, TanfiNet, NFS Project, Gujnet, and IAF project for Upgradation of 3G network to 4G/5G.

Further, the company had also recently announced multiple order wins including a ₹95 crore project from the Directorate of Geology & Mining, Government of Uttarakhand. Similarly, the company along with its consortium partner emerged as the Lowest Bidder for BharatNet project packages worth ₹4559 crore.

Shares of ITI Ltd ended at ₹284.35, down by ₹3.85 or 1.34% on the BSE.

Also Read: Bharat Forge Q3 Results | Net profit, revenue, margin down; declares dividend