Sterlite Tech’s Q1 profits up 30% at Rs 40 crore

NEW DELHI: Optical-fibre cable maker Sterlite Technologies has recorded about 30% rise in its net profit at Rs 40 crore for the quarter ended June 30, 2016.

The company had net profit of Rs 31 crore in the same quarter of the last financial year.

Sterlite Tech’s growth drivers are:
· Mobile data broadband infrastructure requirements for 4G/LTE by Telcos

· Smart Cities requiring basic broadband infrastructure for smart applications

· Rural broadband initiatives like BharatNet

· Broadband infrastructure for Defence and other utilities

· Global Data Growth, served through presence in China, Brazil and Europe.

For these growth drivers, Sterlite Tech is positioned uniquely to play an integral role in designing, building and managing the optical-fibre based broadband infrastructure.
Sterlite Tech’s offerings include:

· High-quality Optical Communication Products through India’s only fully integrated Optical Fibre facility.

· System Integration offering end-to-end services – from infrastructure to applications – for Smart Cities, Defence and other Utility networks.

· Software services to manage billing and operations support for broadband networks.

Highlighting the results, Pravin Agarwal, Vice Chairman, Sterlite Technologies, said, “The growth in our business and robust order books are reflective of the large opportunities surfacing in the telecom space for us. Our strong focus on technology and engineering design for smarter network delivery has given us a distinctive edge against the competition to lead India’s transformation towards adopting true broadband infrastructure.”

Citing growth opportunities, Dr. Anand Agarwal, CEO, Sterlite Technologies, said, “We continue to remain bullish on India, while expanding our global footprint with new products and customers. Broadband infrastructure needs to get created throughout the country and we are architecting such smarter networks by bringing world-class design, execution and management capabilities with our end-to-end offerings.”

Business & Operational Highlights

· Sterlite Tech has advanced its optical fibre manufacturing capacity expansion target of
30 million fkm to FY18. Bulk of this expansion will be accomplished through
de-bottlenecking with minimal capex.

· Sterlite Tech launched its future-ready Smarter Network that assures reliability, longevity, scalability and traceability with lower Total Cost of Ownership and lowest impact on environment.

· The current phases of Smart City Projects in Gandhinagar and Jaipur are close to completion.

· Sterlite Tech has been appointed on the Board of Directors of FTTH Council APAC, where it will play a key role to drive standardisation in Smart City development.

· Order book stands at Rs 2,100 crore.