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Sterlite Tech Q3 Net Profit Up 62 Percent To Rs 146 Crore

Sterlite Techon reported around 62 percent jump in consolidated net profit to Rs 145.6 crore in the December 2018 quarter, on account of robust services solutions business. The company had registered a profit of Rs 90.09 crore in the corresponding quarter of 2017-18.

Total income jumped around 60 percent to Rs 1,345.3 crore, compared with Rs 841.91 crore a year ago.

“We have been operating at 100 percent capacity of the optical fiber and optical fiber cable. Our new facilities are on a track that will further expand our supplies. Our new services business contributed significantly in the current fiscal and contribution also came in from Metallurgica Bresciana which we have recently acquired,” Sterlite Tech Chief Financial Officer Anupam Jindal told PTI.

Sterlite Tech has already invested around Rs 1200 crore for expansion of optical fiber capacity to 50 route kilometer (Rkm) from 22 million Rkm.

Further, the company is investing Rs 320 crore to expand optical fiber cable production from 18 million Rkm to 33 million Rkm by 2020.

The company’s order book during the quarter crossed Rs 10,000 crore with fresh orders worth Rs 5700 crore.―Money Control

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