Sterlite Technologies said its revenue rose 23 percent to Rs 732 crore, while profit grew 63 percent to Rs 30 crore in third quarter of fiscal 2017.
International sales of Sterlite Technologies increased to Rs 284 crore in Q3 from Rs 163 crore in Q3 FY2016. Sterlite Technologies, which is transforming digital infrastructure in over 100 countries, says overseas businesses are contributing to 39 percent of revenues.
Sterlite Tech achievements
# Sterlite Tech rolled out Gandhinagar Smart City Services in December 2016
# Improved its position from Niche to Visionary in the Gartner Magic Quadrant for Integrated Revenue and Customer Management for its software offerings
# Won two Gold Frost & Sullivan India Manufacturing Excellence Awards in 2016
# Granted two patents in the USA and one patent in India in specialty fibre and sensory cables
“Our strong quarter is a testimony to our commitment of delivering the best solution through our end-to-end smarter network offerings. Since optical fibre is the key to building digital infrastructure, we are witnessing strong demand globally, for both our products and optical-fibre based smarter network solution offerings,” said Anand Agarwal, CEO of Sterlite Technologies.
Sterlite Technologies has over 130 patents in optical communication products, system & network integration services and software solutions.
“Broadband is being considered a human right and governments are taking focused measures and spends to bring high-speed broadband to their citizens. We aim to remarkably transform the global digital infrastructure through our smarter network capabilities,” said Pravin Agarwal, vice chairman of Sterlite Technologies.
Sterlite Tech exited Q3 with optical fibre sales at annualised run rate of over 27 million fkm. The quarter also saw highest order booking in the products business at Rs 1,000 crore.
