Sterlite Tech's Q4 net rises 15% to Rs 64 cr

Sterlite Technologies on Wednesday posted a 15% increase in net profit of Rs 64 crore for the quarter that ended in March as the company gears up to have a greater share in the telecom data market amid unprecedented demand.

“We are witnessing an unprecedented growth in new technologies such as cloud computing and artificial intelligence, which is creating the need for new networks based on very high data speed and very low response time. Our strategy of increasing capacity and capabilities will go hand-in-hand with meeting our customers’ evolving needs,” said Anand Agarwal, CEO, Sterlite Tech.

Total revenue of the company during the January-March quarter grew by 15 per cent to Rs 707 crore.

The company closed its order book at an all-time high of Rs 3,018 crore. The order book includes the products, services and software offerings, and maintains a strong international focus.

Agarwal said that the company was eyeing business opportunities in the 5G network as the number of cell sites is expected to rise by 4-5 times as against the 4G network.

The company is also focused on designing, building and managing smarter networks for four key customer segments– Global Service Providers, Smart Cities, Rural Broadband and Defence. It plans to meet its customer demands by offering integrated products like optical fibre, optical fibre cables and data cables as well through its services and software offerings.

Sterlite Technologies has also announced its next phase of expansion entailing ramping up its optical fibre capacity to 50 million km.