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Sterlite Technologies Limited (Sterlite) has posted a profit after tax (PAT) of Rs 42 crore during Q3 FY 16 against Rs 23 crore in the same period of FY 2015, representing a rise of 82 per cent year on year.
Total revenues for the high-speed data and power transmission network solutions company stood at Rs 1,134 crore, against Rs 895 crore respectively in the two quarters being compared registering an increase of 27 per cent.
The company’s EBITDA from the telecom segment in Q3 showed a growth of 25 per cent to Rs 110 crore, while the revenue rose by 20 per cent to Rs 496 crore.
The power segment however, posted a rise of 215 per cent in EBITDA which stood at Rs 45 crore versus Rs 14 crore in Q3 15, while revenue grew by 35 per cent to Rs 621 crore (Rs 461 crore).
For the 9-month period ending Dec 31, 2105, PAT stood at Rs 92 crore, showing a rise of 103 per cent as compared to Rs 84 crore in 9MFY15.
9MFY16 revenue stood at Rs 3,166 crore, crossing the revenue of the whole of the previous fiscal (Rs 3030 crore) and indicating a growth of 54 per cent (Rs 2,051 crore in 9MFY15).
Business highlights
All of Sterlite’s optical fibre operations in India and China continue to operate above rated capacity. During the quarter, the optical fibre business achieved an annualised sales rate of about 22 million km, for a total rated capacity of 20 million km.
With global fibre demand at 360 million km presently, Sterlite expanded global customer base for optical fibre with key order wins it said in a statement.
In the power business, STL is set to deliver India’s first Smart Line to the state of Goa.
A court convened meeting on December 15, 2015, the proposal to de-merge the power business into a separate undertaking was approved with significant majority. The transaction is expected to be complete by April/May 2016.
Pravin Agarwal, Vice Chairman, Sterlite Technologies Ltd., said, “As a result of the Government’s renewed focus on power and connectivity, we see strong opportunities in both our verticals. We have built significant internal capabilities to capitalize on the growth potential.”
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