Sterlite Tech reports 37 per cent increase in net profit

Finance , October 27, 2016

Sterlite Technologies has reported a 37.83 per cent increase in its profit after tax from Rs 370 million during quarter ended September 2015 to Rs 510 million during the corresponding quarter in 2016. Its revenue from operations, however, fell from Rs 5,710 million to Rs 5,510 million during the same period. This resulted in a worsening of its earnings before interest, depreciation, taxes and amortisation which fell from Rs 1,150 million to Rs 1,090 million.

The company added new orders worth Rs 7.31 billion during the quarter, leading to healthy order book of Rs 23.24 billion as of September 2016.

Meanwhile, the company posted a total volume of 6.1 million fibre km during quarter ended September 2016 as against a volume of 5.5 million fibre km during the corresponding quarter in 2017. Sterlite is in the process of expanding its optical fibre manufacturing capacity from the current level of 25 million fibre km a year to 30 million fibre km a year by September 2017.


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