Sterlite Technologies H1 FY11 Financial Results

Financial highlights for the half year ended September 30, 2010:

• Sterlite closed H1 FY11 with revenues of Rs 10.01 billion, EBITDA of Rs 1.82 billion and net profit of Rs 1.13 billion.
• The Company maintained operating profitability at 18 per cent for the half yearly period.
• Net profit in H1FY11 grew by 13 per cent over H1 of the last fiscal.
• Revenue from international sales during the period accounts for Rs 2.90 billion, which is about 29 per cent of net revenues.
• Sales to Europe and the Americas accounted for about 42 per cent of the total international sales. Sales to China and Africa were about 41 per cent of the total international sales.
• The telecom business earned revenues of Rs 3.31 billion in H1 FY11; a growth of 20 per cent year-on-year. This was at an EBITDA margin of 29 per cent, against 28 per cent EBITDA in H1 FY10.
• At the start of Q3 FY11, the company has a strong order book of over Rs 22 billion.

Business highlights in H1 FY11:

• The capacity expansion project for optical fibers, from 12 mn-km to 20 mn-km, is on track for completion by the end of FY 12.
• Grant of three patents in India, taking the total up to 26 patents granted in USA, Europe, India and China.