Sterlite Technologies Shows Sustained Quarter-on-Quarter Growth
PUNE, India, July 27, 2012 /PRNewswire/ --
Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading global provider of transmission solutions for the power and telecom industries, announced its results for the quarter ended June 30, 2012. The company posted net revenues of Rs. 866 Crores, with an EBITDA of Rs. 74 Crores and net profit of Rs. 18 Crores.
Financial highlights for quarter ended June 30 2012:
- Highest ever net revenues in a quarter of Rs. 866 Crores
- Revenue from international sales during the quarter is around Rs. 300 Crores, which is 35% of net revenues
- Good volume growth seen in both, telecom and power segments
- The power business earned revenues of Rs. 570 Crores in Q1FY13; a growth of 47% year-on-year
- The telecom business earned revenues of Rs. 276 Crores in Q1FY13; a growth of 89% year-on-year
- At the start of Q2FY13, the company has a strong order book of over Rs 2300 Crores (~US$ 460 Million).
Standalone Financials Quarter ended Year ended June 2012 March 2012 June 2011 March 2012 Net Revenues (Rs Crore) 547 866 809 2,727 Net Revenues (US$ 109 Mn) 173 162 545 44 EBITDA (Rs Crore) 74 70 223 9 EBITDA (US$ Mn) 15 14 45 5 PAT (Rs Crore) 18 16 44 1 PAT (US$ Mn) 4 3 9 Diluted EPS (Rs.) 0.46 0.42 0.13 1.11
Assumption US$ = Rs 55.0
- In 2012, the global demand for optical fiber is anticipated to be 250 million km.
- Investments in Fiber-to-the-Home/Building (FTTH/B) will continue to remain crucial for the growth in the fiber industry
- With NTP (National Telecom Policy) 2012, the Indian government aims to expand coverage of telecom services in rural area from the existing 35 percent to 100 percent by 2020. The thrust areas of NTP 2012 include, among others:
- Voice over Internet Protocol
- Cloud Computing, Next Generation Network including IPV6
- In the power sector, massive investments being planned globally to strengthen, upgrade, overhaul and smarten the national grids
- India now plans to connect all regional grids into a National Grid by 2014 to improve transmission of power across the country.
Business highlights in Q1 FY13
- Entry into the US market with first conductor order; first HTLS orders in Europe, Latin America and Africa
- First large scale international OPGW order of 2200 Km from Africa; second largest order of Power conductors ever from Europe
- Grant of 1 more patent in India, taking the total up to 46 patents granted in USA, Europe, India & China
- Financial closure of all three BOOM projects, with execution continuing on schedule.
Mr Pravin Agarwal, Whole-time Director, Sterlite Technologies Limited said, "We have seen strong growth across all our product lines and industry segments driven by robust volumes from key markets like Latin America, Europe and the UK. Looking ahead, Sterlite continues to see good demand from global clients as they successfully navigate an increasingly complex environment. Our investments in new technologies and platforms are bearing fruit and will enable us to make strategic decisions, investments, and organizational moves to support the needs of our stakeholders."
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