Sterlite Tech Posts 63% net profit growth in Q3FY'17

Sterlite Tech posts 63 percent net profit growth in Q3 FY'17; sales cross 100 countries. Strong operating performance with revenue up 23 percent and PAT up 63 percent vs Q3 FY'16.

January 18, 2017 / 20:11 IST

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Sterlite Tech posts 63 percent net profit growth in Q3 FY'17; sales cross 100 countries. Strong operating performance with revenue up 23 percent and PAT up 63 percent vs Q3 FY'16 - robust organic growth in international business, exports up 74 percent vs Q3 FY'16 - highest ever order booking in a quarter for product business over Rs 1,000 crore Sterlite Technologies Ltd, a global technology leader in smarter digital infrastructure, posted strong operating performance in Q3FY'17.With over 130 patents in optical communication products, system & network integration services and software solutions, Sterlite Tech posted the highest ever EBITDA at Rs 145 crore, up by 26 percent Y-o-Y. Revenues were up by 23 percent and PAT up by 63 percent this quarter, as compared to the corresponding quarter, last year.

With strong organic growth in international business, Sterlite Tech crossed the milestone of transforming digital infrastructure in over 100 countries. The company achieved highest ever fibre volumes, and exited Q3 with optical fibre sales at annualised run rate of over 27 million fkm. The quarter also saw highest order booking in the products business at Rs 1,000 crore.

Financial highlights for Q3 FY'17 (consolidated - all figures are in Ind AS & Rs crore) Sterlite Tech has posted strong business growth with annual revenue and EBITDA growing at a CAGR of 28 percent and 36 percent respectively, over the past four years. For this quarter, major financial highlights were: - Quarterly revenues at Rs 732 crore, up 23 percent vs Rs 596 crore Y-o-Y.

- Highest ever EBITDA at Rs 145 crore, up 26 percent vs Rs 116 crore Y-o-Y.

- Profit After Tax stood at Rs 49 crore, up 63 percent vs Rs 30 crore Y-o-Y.