Sterlite Technologies Q3 net profit up 83% to Rs90 crore
Sterlite Technologies recorded its highest-ever order book of Rs4,573 crore, a 71% year-on-year growth, driven by strong demand in international markets
New Delhi: Sterlite Technologies on Wednesday said its consolidated net profit jumped over 83% to Rs90 crore for the quarter ended 31 December 2017.
The company had reported a net profit of Rs49.12 crore in the same period a year ago, Sterlite Technologies said in a statement. Its revenue from operations grew 14% to Rs835.18 crore in the quarter under review from Rs732.34 crore in the December 2016 quarter, it added.
Its international revenue stood at Rs505 crore, up 78% year-on-year. Over the past years, Sterlite Technologies has built a robust capability platform across technology innovation, manufacturing standards and corporate governance, its chief executive officer (CEO) Anand Agarwal said.
“As customers put their trust in us, our capability platform enables us to participate in one of the world’s largest digital inclusions by building web-scale networks across cities and villages in India and in many countries of the world,” he added.
The company said its capacity scaling to 50 million fibre km from 30 million fibre km is on schedule to be delivered by June 2019. Also, its patent count grew to 169, with global patents for network architecture, high-capacity fibre manufacturing, and advanced glass composition, the statement added.
“As data networks grow in scale and complexity, and telcos and governments globally drive digitalisation, the company is well positioned to achieve the next level of growth with deeper solutions for smarter networks and worldwide reach,” it said.
The company said it has recorded its highest-ever order book of Rs4,573 crore, a 71% year-on-year growth, driven by strong demand in international markets.
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