Sterlite Tech posts 42% surge in revenue and 40% growth in profit

SterliteSterlite Tech posted revenue of Rs 779 crore (+42 percent), EBITDA of Rs 179 crore (+63 percent) and net profit of Rs 71 crore (+40 percent) for the second quarter ended September 30, 2017.

Exports of Sterlite Tech grew 73 percent, contributing 51 percent of total revenue, as the company entered new geographies and strengthened its presence in Europe and China.

Sterlite Tech said its order book has reached Rs 3,832 crore because optical fibre is essential for supporting the data growth for areas such as Cloud Computing, Augmented Reality and Internet of Things (IoT).

Sterlite Tech achieved capacity expansion to 30 million fibre km. Sterlite Tech is planning to enhance capacity to 50 million fibre km by June 2019.

Sterlite Tech recently launched 5G-ready network solution named FlashFWD.

Sterlite Tech also announced the appointment of Sandip Das, who have earlier worked with Vodafone, Maxis and Reliance Jio, as non-executive and independent director to the Board of Sterlite Tech.

“Fibre continues to be the ideal medium for building smarter networks, and Sterlite Tech is the most integrated player globally with unique capabilities of creating fibre-based data networks – from base infrastructure to the software monetisation layer,” said Anand Agarwal, CEO of Sterlite Tech.