Sterlite Technologies Records Sales of Rs. 680 Crores in Q3

PUNE, India, January 30, 2014 /PRNewswire/ --

Commences Q4 FY14 With Order Book of Rs. 2600 Crores

Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading global provider of transmission solutions for the telecom and power industries, today announced its third quarter results for Financial Year 2014.

Financial highlights for Q3 FY14:

• Sterlite closed Q3FY14 with total revenue of Rs. 680 Crores and EBITDA of Rs. 54 Crores, translating in a profitability margin of 8%.
• The EBITDA margin for 9M FY14 at 9.5% shows improvement compared to same period last year.
• Exports account for 35% of total revenues in Q3 FY14, with addition of six new key customer accounts.
• Open order book at end of the Q3 FY14 at Rs. 2600 Crores with exports constituting close to 50%.

Segment Review:

Telecom Segment

• Highest ever sales volumes in a quarter for optical fiber cable at 1.6 million fiber km.
• Secured largest share for supply of Optical fiber cables and accessories in the prestigious National Optical Fiber Network (NOFN) project to connect 2,50,000 village panchayat.

Power Segment

• Healthy flow of orders supported by addition of new strategic customer accounts in the European and African region. Open order book at end of the Q3 FY14 at Rs. 2400 Crores with an exports accounting  to around 55%.
• Received a certificate of appreciation for best product by an Indian exhibitor at ELECRAMA 2014 for registered product UltraEFF® Low Loss power cable that reduces energy loss by 10%.   

Infrastructure Segment

• The first line of the East North Interconnect project commissioned successfully in September 13, generating Rs. 16 Crores of revenue in Q3 FY14
• The execution of next two projects: Work on Bhopal-Dhule Transmission (BDTCL) and Jabalpur Transmission (JTCL) is in full swing. The revenues from these projects expected to come in next fiscal.
• The commissioning of recent two new projects - RAPP (Rajasthan Atomic power project) and ERSS-7 scheduled in February 2016. 

Mr. Pravin Agarwal, Whole-time Director, Sterlite Technologies Limited says, "We see a clear upside in both telecom and power segments fueled by a number of greenfield infrastructure investments across the world. Sterlite is focused on expanding the business in new geographies backed by our experience in executing large national infrastructure projects." 

    Standalone financials   Q3 FY14  Q2 FY 14  Q3 FY 13  9M FY 14  9M FY13  FY 13
    Net Revenue (Rs.Crores)     680       642       829      2081     2537   3354
    Net Revenue (US $ Mn)       124       117       151       378      461    610
    EBITDA (Rs. Crores)          54        58        60       198      188    260
    EBITDA (US $ Mn)             10        11        11        36       34     47
    PAT (Rs. Crores)              5        12        10        40       33     47
    PAT (US $ Mn)                 1         2         2         7        6      9
    Diluted EPS (Rs)            0.1       0.3       0.3         1      0.8    1.2

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'.

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

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