Pune, India – January 17, 2018:
Sterlite Tech [BSE: 532374, NSE: STRTECH], an end-to-end global technology leader in smarter web-scale digital networks, today posted financial results for the third quarter ended December 31, 2017.
“Over the past years, we have built a robust capability platform across technology innovation, manufacturing standards, and corporate governance,” said Dr Anand Agarwal, CEO, Sterlite Tech, while declaring the results. “As customers put their trust in us, our capability platform enables us to participate in one of the world’s largest digital inclusions by building web-scale networks across cities and villages in India and in many countries of the world.”
The company’s capability-building strategy has resulted in a sustained financial performance over time. The results of the last few quarters have shown a consistent growth, and have been replicated in Q3FY’18, with all-time high performance across key financial metrics.
- Net Revenues: Rs 836 crore, up 14% YoY vs Rs 732 crore
- EBITDA: Rs 208 crore, up 44% YoY vs Rs 145 crore
- Profit After Tax: Rs 90 crore, up 83% YoY vs Rs 49 crore
- ROCE (Nine months FY’18): 29%
- Order Book: Rs 4,573 crore, up 71% YoY vs Rs 2,674 crore
- International Revenues: Rs 505 crore, up 78% YoY, 60% of Revenues
In this quarter, Sterlite Tech continued to build on its capabilities by innovating on smarter network technologies, business processes and project execution.
- The company’s capacity scaling from 30 million fibre km to 50 million fibre km is on schedule, to be delivered by June 2019.
Its patent count grew to 169, with global patents for network architecture, high-capacity fibre manufacturing, and advanced glass composition.
It was recognised as a Visionary in Gartner’s Magic Quadrant for the second consecutive year, and for building the world’s largest intrusion-proof network for the Indian defence.
It was awarded the Telcordia Certification (USA), one of the world’s most stringent standards, for its optical fibre and cables.
As data networks grow in scale and complexity, and telcos and governments globally drive digitalisation, the company is well positioned to achieve the next level of growth with deeper solutions for smarter networks and worldwide reach.
About Sterlite Technologies:
Sterlite Technologies Ltd [BSE: 532374, NSE: STRTECH], is a global technology leader that designs, builds and manages smarter digital networks. Sterlite Tech engages with customers in more than 100 countries, with a digital web-scale offering across products, services and software. The Company has global scale manufacturing facilities in India, China & Brazil and two Software Delivery Centres in India. Sterlite Tech is home to India’s only Centre of Excellence for broadband research and Centre for Smarter Networks for next generation network applications. Projects undertaken by the company include intrusion-proof smarter data network for the Armed Forces, rural broadband for BharatNet, Smart Cities’ development, and establishing high-speed Fibre-to-the-Home (FTTH) networks.
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Forward-looking and cautionary statements:
Certain words and statements in this release concerning Sterlite Technologies Limited and its prospects, and other statements relating to Sterlite Technologies’ expected financial position, business strategy, the future development of Sterlite Technologies’ operations and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of Sterlite Technologies Limited, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Sterlite Technologies’ present, future business strategies, and the environment in which Sterlite Technologies Limited will operate in the future. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in Government policies or regulations of India and, in particular, changes relating to the administration of Sterlite Technologies’ industry, and changes in general economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Sterlite Technologies’ control, include, but are not limited to, those risk factors discussed in Sterlite Technologies’ various filings with the National Stock Exchange, India and the Bombay Stock Exchange, India. These filings are available at www.nseindia.com and www.bseindia.com.