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Sterlite Tech delivers sustained growth, records strong performance during Oct-Dec 2017 quarter

January 17, 2018

Sterlite Tech has posted its financial results for the third quarter ended December 31, 2017. The company’s net revenues increased by 14 per cent from Rs 7.32 billion during quarter ended December 2016 to Rs 8.36 billion in the corresponding quarter in 2017. The earnings before interest, tax, depreciation and ammortisation grew by 44 per cent from Rs 1.45 billion to Rs 2.08 billion during the same period. Meanwhile, the profit after tax stood at Rs 900 million, up 83 per cent year-on-year as against Rs 490 million recorded during the same quarter in 2016.

The order book for the company stood at an all time high of Rs 45.73 billion during the quarter under consideration, recording a growth of 71 per cent over last year.  Meanwhile, the return on capital employed (for nine months of 2017-18) stood at 29 per cent.

International revenues stood at Rs 5.05 billion, registering a year-on-year growth of 78 per cent; and accounted for 60 per cent of total revenues.

Sterlite Tech’s capability-building strategy has resulted in a sustained financial performance over time. The results of the last few quarters have shown a consistent growth, and have been replicated in the results of third quarter of 2017-18, with all-time high performance across key financial metrics.

While announcing the results, Dr Anand Agarwal, CEO, Sterlite Tech, stated, “Over the past years, we have built a robust capability platform across technology innovation, manufacturing standards, and corporate governance. 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.”

Sterlite Tech continued to build on its capabilities in the quarter under consideration by innovating on smarter network technologies, business processes and project execution. Its patent count grew to 169, with global patents for network architecture, high-capacity fibre manufacturing, and advanced glass composition.

Moreover, the company’s capacity scaling from 30 million fibre km to 50 million fibre km is on schedule, to be delivered by June 2019.

As data networks grow in scale and complexity, and operators 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.

 
 

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