Sterlite Technologies Aims To Post 20% Profitability Margin In 2019-20
Sterlite Technologies has won a Rs 1,800-crore order from Telangana to lay high-speed broadband network as part of the BharatNet.
Sterlite Technologies Ltd. aims to post a profitability margin of around 20 percent in ongoing financial year, Group Chief Financial Officer Anupam Jindal said, as the company bagged a Rs 1,800-crore order from the Telangana government.
The supplier of fibre cables hopes to maintain the range of Ebitda margin in the next financial year as well. “Absolute Ebitda for the next year will increase, but in terms of margin, since the mix of business is moving towards integrated business offering, I think the margin could remain in the range of 20-21 percent,” Jindal told Bloomberg Quint in an interview.
The company has seen a contraction in its quarterly margin over last year.
This comes as earlier this week, the company bagged a Rs 1,800-crore contract from the Telangana government for laying high-speed broadband network for about 11 districts serving 3,000 villages and 6 million rural people, as part of the larger Bharatnet Project. It has received Rs 1,100 crore for the two-part order and will receive another Rs 700 crore in a year’s time, Jindal said.
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