Sterlite Tech consolidated net profit grew by 84% yoy during Q2 of 2018-19

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Sterlite Tech consolidated net profit grew by 84% yoy during Q2 of 2018-19

October 25, 2018

Sterlite Tech has recorded an increase of 84 per cent in its consolidated net profit from Rs 712.3 million during July-September 2017 to Rs 1.31 billion during July-September 2018.

The company’s revenue from operations has increased from Rs 7.79 billion to Rs 10.84 billion during the period under consideration, an increase of 39 per cent.

Meanwhile, the company is working towards increasing its capacity to produce both optical fibre and optical fibre cable and has committed an investment of around Rs 20 billion.

Also, Sterlite recently committed Rs 3.2 billion worth of capital expenditure in greenfield and brownfield expansion to double its cable capacity.

Sterlite has also confirmed that its ongoing capex programme of expanding its fibre capacity to 50 million fibre km is on track and will be operational by June 2019.