Sterlite Power reports 30% rise in net profit to Rs 322 cr in 2022-23

Sterlite Power on Tuesday reported over 30 per cent rise in its standalone net profit to Rs 322.01 crore for 2022-23, mainly on the back of higher revenues.

The company's standalone net profit was Rs 246.57 crore in the preceding fiscal ended March 2022, a company statement said.

Its revenue from operations rose to Rs 3,923.51 crore in fiscal 2022-23 from Rs 3,797.38 crore a year ago.

Sterlite Power Managing Director Pratik Agarwal said, "The results demonstrate our continuous focus on garnering new opportunities and operational efficiencies and underscores our commitment to be a key player in building the nation's energy landscape".

Recently, a record Rs 75,408 crore worth of power transmission projects have been approved by the 14th National Committee on Transmission (NCT) and are likely to be awarded this year through the bidding route, he added.

With a solid track record of executing complex projects, the company is well positioned to capture a sizeable chunk of this opportunity, he noted.