Sterlite Technologies earns Rs 664 Crores as net revenue in Q3 FY12
… Commences Q4 FY12 with confirmed orders of about Rs 2,400 Crores
Pune, INDIA – January 25, 2012
Sterlite Technologies Limited “Sterlite” [BSE:532374, NSE:STRTECH], a leading global provider of transmission solutions for the power and telecom industries, today announced its results for the quarter ended December 31, 2011.
Financial highlights for Q3 FY12
- Net revenue of Rs. 664 Crores.
- EBITDA of Rs 56 Crores, PAT of Rs 9.5 Crores.
- Power business revenue of Rs. 476 Crores and telecom business revenue of Rs. 188 Crores.
Strong order book
- During Q3 FY12, the Company received new orders valued at about Rs 680 Crores (~US$ 151 million) for its telecom and power products.
- The open order book for the Company at the start of Q4FY12 stands at over Rs 2,400 Crores (~US$ 533 Million), which is significantly higher than that at the start of Q4 last fiscal.
Business highlights for 9-months
- Focused efforts in product development have lead to the introduction of ACCC conductors, G657 optical fiber and blown fiber optic cables amongst many more.
- Market entry into new geographies like North America and Latin America.
- Revenues from international sales currently account for about 30% of total revenues.
- Good progress is being made in the execution of the Company’s three power infrastructure projects.
Industry outlook
- The Government of India has plans to provide financial assistance to State Governments to set up transmission networks that would facilitate evacuation of renewable energy being generated within the State. Thus opportunities from PGCIL, SEB’s and the private sector are very optimistic.
- 2011 witnessed the highest ever demand for optical fiber at 215 Mn-fkm with Europe, US, China and Brazil as the biggest contributors to this growth.
- The Union Government of India has formed a special purpose vehicle, ‘Rajiv Gandhi National Information Super-Highway’, for setting up a National Fiber Optic Network (NFON). The Government has approved an investment of Rs 20,000 Crores towards broadband connectivity to Panchayats, e-governance, online banking and health services initiatives.
Says Pravin Agarwal, Wholetime Director – Sterlite Technologies Limited, “Although this has not been one of the best fiscal periods for our Company, we continue to be very bullish and optimistic in our direction, our growing global reach and our increased participation with clients requirements – from fiber to bandwidth and from conductors to actual power transmission.”
“We would continue to build organizational capability, focus on economies of scale, costs and technology advancements, to ensure our business progress”, he adds.
About Sterlite Technologies Limited: Sterlite Technologies Limited (“Sterlite”) [BSE: 532374, NSE: STRTECH], is a leading global provider of transmission solutions for the power and telecom industries. Equipped with a product portfolio that includes power conductors, optical fibers, telecommunication cables and a comprehensive telecom systems / solutions portfolio, Sterlite’s vision is to ‘Connect every home on the planet’. Sterlite is also executing multi-million dollar power transmission system projects, pan-India. For more details, please visit www.sterlitetechnologies.com
Contacts:
Keith D’Silva: Corporate Communications, Sterlite Technologies Limited
Phone: +91.20.30514000, Email: keith.dsilva@sterlite.com
Vishal Aggarwal: Investor Relations, Sterlite Technologies Limited
Phone: +91.2
