Sterlite Technologies Posts Nine Months Sales of Rs 2,537 Crores
PUNE, India, January 28, 2013 /PRNewswire/ --
Robust Revenue Growth of 30% Y-O-Y
Sterlite Technologies Limited ("Sterlite") [BSE: 532374, NSE: STRTECH], a leading global provider of connectivity and infrastructure solutions for the power and telecom industries, today announced its results for the quarter ended December 31, 2012.
- Sterlite closed Q3 FY13 with revenues of Rs 829 Crore, which is a growth of 25% over the Q3 FY12 revenue of Rs 664 Crore.
- EBITDA and net profit for the quarter were Rs 60 crore and Rs 10 crore respectively.
- Power business revenue of Rs. 574 Crores and telecom business revenue of Rs. 242 Crores.
ended Standalone Nine Months Year ended Financials Quarter ended December 31 March 2012 Dec 2012 Sep 2012 Dec 2011 2012 2011 Net Revenues (Rs 829 842 664 2537 1918 2727 Crore) Net Revenues (US$ 151 153 121 461 349 496 Mn) EBITDA (Rs Crore) 60 54 56 188 153 223 EBITDA (US$ Mn) 11 10 10 34 28 41 PAT (Rs Crore) 10 4 9 33 27 44 PAT (US$ Mn) 2 1 2 6 5 8 Diluted EPS (Rs.) 0.25 0.11 0.24 0.82 0.70 1.11
Assumption US$ = Rs 55
- Notable positive trends were strengthening of South East Asian market, stable order flow from Middle East, Latin America & Europe, and sustainability of operational EBITDA margins in the Power Products division for the third consecutive quarter.
- Sterlite received the EMC2 AWARD 2012 (Transform IT + Business). The award recognizes innovative solutions in IT, product integrations and applications, which create business value and agility.
- Launch of a new product - 96F/288F dry core Ribbon cables in the telecom segment.
- During the quarter, Sterlite's Grid business commenced stringing of 765 KV single circuit lines in BDTCL & JTCL. Also, the first line amongst the two for the first project, ENCIL is on track to be commissioned in Q1, FY14 and will start generating revenues. Commissioning of the second line for this project which is the Bongaigaon - Siliguri line will follow subsequently.
At the start of Q4 FY13, Sterlite has a strong order book of about Rs. 2000 Crores (US$ 360 Million) and a bulk of this would be executed during FY 13-14.
Developments to watch in coming times include nationwide broadband projects and Fiber-to-the-home (FTTH) as a concept being established across many nations of the world. This is besides the growth in electricity consumption, which is a key driver of demand for the company's power transmission businesses. Sterlite is also taking key initiatives in facilitating the transition of the power transmission industry towards high-end new age conductors that offer better operational efficiencies by enhancing ampacity (power carrying capability) and reducing transmission losses. The order wins in this quarter with some of the export customers in this segment is an important milestone in the company's journey.
The longer-term outlook in Sterlite's major end markets remains favorable, driven by megatrends such as the need for greater resource efficiency, increasing urbanization in the emerging markets, and the growing demand for more efficient and reliable, telecommunications and power transmission solutions.
Commenting on future outlook and company's strategy Pravin Agarwal, Whole-time Director, Sterlite Technologies Limited, said, "We remain focused on advancing our position in the higher value, higher growth segments of the business market. We are confident of our competitive strategy and will continue to closely monitor the challenging demand environment and adapt towards it as we move through the year."
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.
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SOURCE Sterlite Technologies Limited