Sterlite Technologies' Q1 FY 14 Profitability at Rs. 85 Crore, up by 16% Over Last Year

PUNE, India, July 26, 2013 /PRNewswire/ --

Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading global provider of transmission solutions for the telecom and power industries, today announced its results for the quarter ended June 30, 2013. The company posted net revenues of Rs. 758 Crores, with an EBITDA of Rs. 85 Crores and net profit of Rs. 23 Crores.

Financial highlights for quarter ended June 30 2013:

• Sterlite closed Q1FY14 with EBITDA of Rs. 85 Crores on total revenues of Rs. 758 Crores translating into a profitability margin of 11% for this quarter.
• The telecom business earned revenues of Rs. 291 Crores and EBITDA of Rs. 61 Crores in Q1FY14, while the power business earned revenues of Rs. 453 Crores and EBITDA of Rs. 24 Crores in Q1FY14.
• International sales revenue of about Rs. 198 Crores (~US$ 36 Million); approximately 26% of net revenues.

    Standalone Results               Quarter Ended          Year Ended
                            Jun-13      Mar-13    Jun-12      Mar-13
    Net Revenues (Rs Crore)    758         817       866       3,354
    Net Revenues (US$ Mn)      138         148       157         610
    EBITDA (Rs Crore)           85          72        74         260
    EBITDA (US$ Mn)             16          13        13          47
    PAT (Rs Crore)              23          15        18          47
    PAT (US$ Mn)                 4           3         3           9
    Diluted EPS (Rs.)          0.6         0.4       0.5         1.2

Assumption US$ = Rs. 55

Business highlights in Q1 FY14

In the Telecom Segment

• Highest ever sales volumes in a quarter for optical fiber
• Almost 50% of sales were from export markets
• Received orders for specialty high-performance fibers from geographies like China and Middle East, which unlocks access to these markets for long haul applications
• OH-LITE^[TM]fiber has been certified by Alcatel-Lucent and Ciena Corporation for successful data transmission at 100 GB speeds.

In the Power Segment

• Commissioned next generation ACCC conductor solution for Tata Power's Mumbai project; upgraded the 22 kV IIT Powai-Saki transmission line crossing over a thickly populated slum area comprising closely spaced hutments and hilly terrain - one of the toughest terrains for specialized stringing; Received repeat order for ACCC from Tata Power for re-conductoring project in Mumbai.
• First large scale international ACSR Zebra conductor order for a 275 KV project in Indonesia.

On the Infrastructure projects

• The first line of East-North Interconnection Project is expected to be commissioned in August 2013.
• The execution of other two projects: Bhopal-Dhule Transmission (BDTCL) and Jabalpur Transmission (JTCL) are currently running largely on track towards progressive revenue generation in FY15.

Mr. Pravin Agarwal, Director, Sterlite Technologies Limited says, "Sterlite's enhanced product portfolio and increasing global footprint has helped us capitalize on opportunities in the power and telecom sectors. He adds, "The addition of marquee customers in Middle East, Latin America and South Asian regions coupled with repeat business from existing overseas clients in this Quarter is an indicator of growing confidence of global customers in Sterlite."

At the start of Q2FY14, the Company has a strong order book of about Rs. 1,830 Crores for its power and telecom products, out of which export orders comprise 32%.

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 power ground wire, EHV/HV power cables, 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.

Primary Media Contact: Ravindra Utgikar, [email protected], 91-20-30514000

Secondary Media Contact: Vishal Aggarwal, [email protected], 91-20-30514000