Sterlite Tech records Rs 90 crore profit, Rs 836 crore revenue in third quarter

Technology company Sterlite Tech marked net profit of Rs 90 crore in the third quarter which increased 83% year-on-year as compared to Rs 49 crore earlier. The company’s revenues touched Rs 836 crore which is up 14% year-on-year where earlier it was Rs 732 crore.

The EBITDA of the company recorded Rs 208 crore, up 44% year-on-year vs Rs 145 crore. The company’s order book saw Rs 4573 crore which increased 71% year-on-year vs Rs 2674 crore.

International revenues of the firm touched Rs 505 crore increasing 78% year-on-year, constituting 60% of revenues.

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

The company said that this has been its all-time high performance across key financial metrics.

Additionally it said that its capacity is scaling from 30 million fibre km to 50 million fibre km is on schedule, to be delivered by June 2019. Its patent count grew to 169, with global patents for network architecture, high-capacity fibre manufacturing, and advanced glass composition.