New Delhi, Oct 24 (PTI) Broadband technology firm Sterlite Tech Wednesday posted 84 per cent jump in consolidated net profit to Rs 131 crore for the quarter ended September 30, 2018.
The company had clocked Rs 71.23 crore net profit in the same period a year ago.
“This was another quarter of healthy growth due to high demand for data network. This quarter we had all time high order book of Rs 9,455 crore to be realised over next 2.5 years. Operational leverages increase with strong order book,” Sterlite Tech Group CEO Anand Agarwal told PTI.
Revenue from operations increased 39 per cent to Rs 1,084 crore from Rs 779.26 crore in the year-ago period.
Agarwal said revenue mix between international and domestic business has come almost at par in this quarter and the same is the case of order books.
“We had around Rs 4,500 crore worth order from international markets with big win in France. We have been very strong in Europe in markets like the UK, Italy and France. Recently, order from Navy strengthened the order from domestic market,” Agarwal said.
He said the company is working to ramp up its capacity to produce both optical fibre and optical fibre cable with commitment of around Rs 2,000 crore investments.
Sterlite recently committed Rs 320 crore capital expenditure in greenfield and brownfield expansion to double its cable capacity.
Besides, Agarwal said, Sterlite’s ongoing capex programme of expanding its fibre capacity to 50 million fibre kilometer is on track, and will be operational by June 2019.
“The move towards 5G will push demand of optical fibres significantly. 5G technology will require 5-10 times more fibre than required for 4G services,” Agarwal said.
The company during the quarter registered 75 per cent revenue from sale of products and rest from service businesses, he said.
This is published unedited from the PTI feed.