Sterlite Tech Q2 Net Profit Rises 22 Percent To Rs 160 Crore

Broadband technology firm Sterlite Technologies on Thursday recorded a 22 percent rise in consolidated net profit to Rs 160 crore during the second quarter ended September 30. The company had recorded a net profit of Rs 131 crore in the corresponding period a year ago.

Its consolidated revenue increased 25 percent to Rs 1,360 crore during the reported quarter from Rs 1,084 crore in the corresponding quarter of 2018-19. “Data, analytics and customer experience are the primary drivers of exponential growth in the industry today. This is that early moment in the connected future when we can adopt new technologies and drive inclusive growth,” Sterlite Technologies (STL) Chief Executive Officer Anand Agarwal said.

STL Chief Financial Officer Anupam Jindal said the growth has come despite sluggish demand in the market. “We have had an order book of Rs 8,100 crore by the end of September 30, 2019. We have had an order book of around Rs 10,000 crore in the past. We look to achieve same level of order in next 6-9 month,” Jindal said.―Devdiscourse