Sterlite registers 73% rise in Q1 revenues

NEW DELHI: Sterlite Technologies, a global provider of solutions for the high-speed data transmission and power transmission networks, has announced a 73% rise in its revenues to Rs 975 crore for the quarter ended June 30, 2015 over the same period last year.

The EBITDA grew by 67% from Rs 71 crore in Q1FY15 to Rs 119 crore in the current quarter and PAT was higher by 122% from Rs 9 crore in Q1 last year to Rs 20 crore in Q1FY16.

The total order book as of June 30 was at Rs 4,205 crores with the telecom order book at Rs 2,087 crores and power at 2,118 crores. Nearly 80% of the order book is domestic focused reflecting the underlying growth on account of the communication and power infrastructure being built out in India.

In May, 2015, the company announced that it would demerge its power businesses into a separate undertaking. The demerger proceedings are underway and expected to close in Q4 2016, subject to approvals by the High Court, SEBI, shareholders and creditors of STL and other relevant regulatory.

Telecom segment highlights

Revenues from the telecom products and solutions business for the quarter were Rs 424 crores with EBITDA of Rs 101 crores.

Optical Fibre (OF) volumes were 4.5 million fiber kilometers while volumes of Optical Fibre Cables (OFC) were 1.8 million fiber kilometers with the fibre-to-cabling mix at 40% during the quarter.

Power segment highlights

Revenues from the power products & solutions business revenue were Rs 537 crores for Q1 FY16, with EBITDA of Rs 18 crores.

Volumes for the conductors for the quarter were 30,347MT compared to 8,794 MT for Q1 FY15.

Revenues for the power transmission business were Rs 88 crores for Q1 FY16, with EBITDA of 82 crores. The increase is on account of progressive commissioning of elements in the BDTCL and JTCL projects.

Post the end of the quarter, the company has been awarded the Maheshwaram project in Telangana, a 765KV line that is expected to generate Rs 55 crores of levelised tariff.

Pravin Agarwal, Vice-Chairman, Sterlite Technologies, said, “We had a strong quarter of topline and bottom line growth across our telecom and power verticals during a transformational time in our business. The telecom business continues to witness strong traction on the back of scaling up of connectivity infrastructure both domestically and overseas.

The quality of growth is heartening given the profile of customers who appreciate the integrated business model as well as the evolving and pioneering product portfolio. We are confident of scaling greater heights as the data opportunity unfolds further across the country and the region. And through it all, we shall continue to remain focused on building sustainable value for all stakeholders. ”