You are here: Home » Companies » Results
Business Standard

Sterlite Technologies profit down 60%

Company has secured few projects for end-to-end implementation in power infrastructure sector

BS Reporter  |  Pune 

Pune-based Sterlite Technologies, provider of transmission solutions for the telecom and power industries and a part of the Vedanta Group, has posted a profit of Rs 9.49 crore for quarter ended June 30, 2014, down 60 per cent as compared to last year for the corresponding quarter.

Its major contributor power and transmission which is 40 per cent of the total business has faced external pressures. The revenues have also gone down by 28 per cent at Rs 564 crore as compared to Rs 759 crore. The company has secured few projects for the end-to-end implementation in power infrastructure sector.

However, its order books has reached all time high to Rs 4,400 crore split evenly between the telecom and power segments in which export orders constitute 28 per cent.

As per the Government of India’s policy to release 150 Mhz of spectrum held by defence sector in the frequency range of 1700Mhz to 2000Mhz, the company has bagged the project to build a new communication network for exclusive use by the armed forces in lieu of the spectrum.

Pravin Agarwal, whole-time director, Sterlite Technologies said, "We are very pleased with the overall developments during the quarter. The NFS order and the NRSS contract provide us with a good backlog for future growth. We continue to remain bullish on the high-speed data requirements and bulk power transmission requirements in India, as well as globally. "

The company has recently received PE equity funding of Rs 500 crore from Standard Chartered for power business.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, August 05 2014. 20:55 IST
RECOMMENDED FOR YOU
.