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"The demerger scheme was earlier approved by the High Court of Mumbai on April 22, 2016, post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015," Sterlite Technologies said in a BSE filing.
Sterlite Power today entered into partnership with Finland's unmanned aerial vehicles solutions provider Sharper Shape for inspection of power transmission projects.
"Sterlite Grid emerged as the lowest bidder for the power transmission project in Odisha with a levelised annual tariff of Rs 139.79 crore," Sterlite Technologies Ltd said in a regulatory filing.
The company's net profit stood at Rs 12.56 crore in the year-ago period, Sterlite Technologies said in a statement.
The acquisition will enable Sterlite to offer complete backend suite broadband solution to its telecom clients.
"Sterlite Power Grid Ventures (Sterlite Grid), a subsidiary of Pune-based Sterlite Technologies, announces commissioning of its Jabalpur transmission Project," the company said in a press release.
The total revenue for the first quarter was Rs 975 crore, an increase of 73 percent as compared to the same period last year, the company said, adding that telecom and power businesses contributed Rs 424 crore and Rs 537 crore respectively.
