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Sterlite Tech delivers stellar Q3 performance; PAT up 62% yoy, orderbook at Rs 100 billion

January 24, 2019
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Sterlite Tech, a global data network solutions company, posted financial results for the third quarter ended December 31, 2018.With hyper growth in network creation for 5G, FTTx, citizen networks and data centres, Sterlite Tech continued solid performance, reporting a positive quarter with the highest-ever order book, crossing Rs 100 billion.

Data has been growing exponentially, with over 10X scale expected in global IP traffic from 2012 to 2022, driving a hyper build cycle of networks globally by traditional and new players. While globally telcos are embracing digital for enhanced customer experience, large internet companies are building more and more data centres. At the same time, governments are investing in urban and rural networks, and Indian Defence is building world-class integrated data communications networks. This increasing customer relevance and geographic spread, along with the Company’s strategy of evolving to a data network solutions provider, has opened an addressable market of $75 billion by FY’23. This sets the trend for continued growth momentum for FY’20 and beyond.

To serve this growing market, Sterlite Tech has leveraged its unique silicon-to-software capability, relentless technology innovation and deep customer engagement to provide end-to-end solutions. Some key highlights for the Company over this quarter are:

End-to-end solutions: The Company is developing network solutions for varied customer applications, and has recently launched FTTx Mantra, a programmable network solution that converges deep fiberisation, swift roll out and virtualisation.

Open, programmable networks: The Company has developed capability in programmable networks and intelligence, and has also partnered with RedHat to develop open and agile solutions that help accelerate telcos’ digital reinvention.

Innovation: Innovation is at the core of everything Sterlite Tech does. Its ongoing innovation in optical communications and networking technologies has resulted in 234 patents, including innovation in strategic areas of sensory fibre cable and software-defined networks. The Company recently established a Speciality Products Experience Lab (SPEL) in India to focus on the physical layer of connectivity for small cells, data centres and IoT applications.

Deep customer engagement: Sterlite Tech continued to drive its global presence with deeper inroads in existing geographies across Europe with some marquee wins with Tier-1 telcos. With deeper customer engagements, the Company is working with global telcos, cloud companies and citizen networks to transform their networks for 5G, small cells, IoT, rural broadband and FTTx.

Strengthened manufacturing core: The Company continues to maintain an extremely strong manufacturing core, riding on deep fiberisation trends in the network. Both the optical fibre expansion to 50 million fkm (by June 2019) and optical fibre cable expansion to 33 million fkm (by June 2020) are well on track and is coming online in a phased manner.

“Data is still a relatively new industry, at the early stage of exponential growth. As networks become smarter – open, software-defined and programmable with deep fiberisation – our unique proposition of integrated data network solutions makes us the partner of choice for our customers,” said Dr Anand Agarwal, Group CEO, Sterlite Tech.

The Company’s performance in the third quarter of FY’19 reinforces this strategy. Key highlights are:

Revenues at Rs 13.35 billion, up 60% YoY

EBITDA at Rs 3.04 billion, +46% YoY

PAT at Rs 1.46 billion, +62% YoY

Highest ever order book at Rs 102.31 billion

 

 

 
 
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