Sterlite Tech Q3 net profit surges 83% to Rs 900 million

Sterlite Technologies today said its consolidated net profit jumped over 83 per cent to Rs 900 million for the quarter ended December 31, 2017.

The company had reported a net profit of Rs 491.2 million in the same period a year ago, Sterlite Technologies said in a statement.

Its revenue from operations grew 14 per cent to Rs 83.5 billion in the quarter under review from Rs 732.34 crore in the December 2016 quarter, it added.

Its international revenue stood at Rs 5.05 billion, up 78 per cent year-on-year.

Over the past years, Sterlite Technologies has built a robust capability platform across technology innovation, manufacturing standards and corporate governance, its CEO Anand Agarwal said.

"As customers put their trust in us, our capability platform enables us to participate in one of the worlds largest digital inclusions by building web-scale networks across cities and villages in India and in many countries of the world," he added.

The company said its capacity scaling to 50 million fibre km from 30 million fibre km is on schedule to be delivered by June 2019.

Also, its patent count grew to 169, with global patents for network architecture, high-capacity fibre manufacturing, and advanced glass composition, the statement added.

"As data networks grow in scale and complexity, and telcos and governments globally drive digitalisation, the company is well positioned to achieve the next level of growth with deeper solutions for smarter networks and worldwide reach," it said.

The company said it has recorded its highest-ever order book of Rs 45.73 billion, a 71 per cent year-on-year growth, driven by strong demand in international markets.