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Sterlite Technologies records strong and consistent growth
July 20, 2009
2 Min Read
PUNE, India -- Sterlite Technologies Limited ("Sterlite") BSE (Bombay Stock Exchange): 532374, NSE(National Stock Exchange of India, Mumbai): STRTECH],a leading global provider of transmission solutions today today announced its results for the quarter ended June 30, 2009.
First Quarter Highlights
Net Revenues of Rs. 436.18 Crores.
Operating Profit (EBITDA) of Rs. 80.26 Crores up 93% year over year, with an improved margin of 18%.
Net Profits (PAT) of Rs. 45.48 Crores.
Power Transmission Business product sales of Rs. 296.04 Crores with an improved EBITDA margin of 15%.
Telecom Products & Solutions Business sales of Rs. 140.14 Crores with an improved EBITDA margin of 26%.
Progress on ongoing expansion projects
Sterlite's current optical fiber facility of 6 Million-Km is already under expansion to 12 Million-Km, which would get established in the current fiscal. Sterlite has decided to further enhance this capacity to 20 Million-km, which would position Sterlite amongst the Top 3 manufacturers globally. The capacity of 20 Million-Km would be functional by 2011.
Projects underway to increase fiber optic cable capacity to 6 million-km and enhance power conductor capacity to 160,000 Metric Tonnes, are well on the track.
Business Highlights
At the start of Q2FY10, the Company has a strong order book of about Rs. 1,600 Crores for its power and telecom products.
Strong cash flow during the quarter.
International sales reached Rs. 156 Crores in Q1FY09. Receipt of repeat orders from current customers and the addition of new eminent global customers. Sterlite's global footprint extends to Europe, Africa, Middle East & China.
Sterlite received contract from BSNL of Rs. 372 Crores for enabling a Fiber-to-the-Home (FTTH) Network based on Gigabit Passive Optical Network (GPON) technology.
In the Voice & Data 100 2009 survey, Sterlite was positioned as the 'Top Telecom Cables Company' for the 6th consecutive year.
Says Pravin Agarwal - Director, Sterlite Technologies, "We have had a very good quarter and are focused on continuing on our growth path. These results are due to our efficient and enduring business model and we will continue to invest in areas that will help drive growth of our business, to create value for our shareholders and customers."
Sterlite Technologies Ltd.
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