Sterlite posts 26% fall in Q1 revenues

Telecom solutions provider Sterlite Technologies has recorded a 26% fall in its revenues at Rs 758 crore in the first quarter of FY15, as against Rs 564 crore in the same period last fiscal.

EBITDA stood at Rs 71 crores for the same quarter as against Rs 85 crore and PAT stood at Rs 9 crores as compared to Rs 23 crore in the same period a year ago.

EBITDA margin improved by 200 basis points driven by a greater share of telecom segment in overall business

Telecom business revenues were up 10% Q-O-Q at Rs 322 crores.

The order book stood at Rs 4,400 crores, split evenly between the telecom and power segments. Export orders constitute 28% of this order book

The company secured a significant share of the Network for Spectrum (NFS) Project. The project will use Sterlite's intrusion proof solution for a secure communication network dedicated for defense use.

Pravin Agarwal, whole-time director, Sterlite Technologies," We are very pleased with the overall developments during the quarter. The NFS order and the NRSS contract provide us with a good backlog for future growth. We continue to remain bullish on the high-speed data requirements and bulk power transmission requirements in India, as well as globally."