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Sterlite Technologies’ net profits surge 40% in June-Sept 2017, driven by demand for OFC

October 17, 2017

Sterlite Technologies Limited has posted a 40 per cent surge in consolidated net profit to Rs 712.3 million in the quarter ended September 2017 driven by demand for optical fibre cable (OFC) for high speed data networks. The company had reported a profit of Rs 508.3 million in the quarter ended September 2016.

Sterlite Technologies’ revenue increased by 42 per cent to around Rs 7.79 billion in the reported quarter as against Rs 5.58 billion in quarter-ended September 2016. The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 1.79 billion which is up by 63 per cent on year-on-year basis. Moreover, Sterlite’s overseas market contributed 51 per cent to its total business and 49 per cent of revenue came from domestic market.

The company has stated that OFC is proxy to data growth and it is a global product. There is high demand for high speed data networks across countries where it has its business. Moreover, the company claims to have strong order books and that its manufacturing plants are running at full capacity which is bringing continuous growth for the firm.

The company pointed that it has a current OFC manufacturing capacity of 30 million fibre kilometre. Further, its capacity expansion to 50 million fibre kilometres is on track and is expected to be achieved by June 2019.

 
 

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