Sterlite Technologies Expects Its Order Book To Cross Rs 10,000-Crore Mark In FY20
Sterlite Tech plans to get to 90-95% levels of existing 30 million capacity in optical fibre business, CFO Anupam Jindal says.
Sterlite Technologies Ltd. expects its order book to cross the Rs 10,000-crore mark by the end of the ongoing fiscal, Group Chief Financial Officer Anupam Jindal said.
“The order wins worth Rs 1,500 crore in the last 6-7 weeks comprise of optical fibre solutions and network-integrated services,” Jindal told BloombergQuint. “Also, we are planning to get to 90-95 percent levels of our existing 30 million capacity in our optical fibre business.”
The optical fibre maker expects its volume growth to be in the range of 10-15 percent sequentially in the January-March period after third-quarter volumes were “abnormally” low, said Jindal.
That comes as the Vedanta Group company’s profit declined 68.3 percent sequentially to Rs 50 crore in the December quarter while revenue fell 11.5 percent to Rs 1,202.7 crore.
WATCH | Sterlite Technologies CFO Anupam Jindal On Order Wins
Shares of the company surged 7 percent, its biggest intraday gain in a month, compared to a 0.15 percent gain in the Nifty Index.