Sterlite Technologies Profit up 29% in First Quarter
Revenue increased 22 percent to Rs 565 crore in the first quarter.
Sterlite Technologies Ltd. recorded a 29 percent increase in net comprehensive income to Rs 40 crore in the April-June quarter, from Rs 31 crore in the same quarter last year.
The communication cable manufacturer reported a 22 percent rise in revenue to Rs 565 crore, compared to Rs 463 crore on a year-on-year basis, according to the company’s filing on the Bombay Stock Exchange.
Earnings before interest, tax, depreciation and amortisation grew 21 percent to Rs 124 crore from Rs 102 crore in the same quarter last year. EBITDA margin, on the other hand, fell to 20.35 percent from 21.59 percent year-on-year.
The company sees enough growth opportunities in India, the management said in the press release on BSE.
Broadband infrastructure needs to get created throughout the country and we are architecting smarter networks by bringing world-class design, execution and management capabilities with our end-to-end offerings.Anand Agarwal, CEO, Sterlite Technologies
Sterlite Technologies plans to expand their optical fiber manufacturing capacity with a target of 30 million fibre kilometre units in financial year 2017-18, according to the filing.
Shares fell marginally by 0.9 percent to Rs 88.9 per share on the BSE.