Telecom News --

Sterlite Technologies posts 4-fold jump in Net Profits for 9-months of FY10

Pune, INDIA, 18 January, 2010

Sterlite Technologies Limited ("Sterlite") [BSE: 532374, NSE:STRTECH], a leading global provider of transmission solutions for the telecom and power industries, today announced its results for the quarter and nine-months year ended December 31, 2009.

Financial Highlights for Nine-Months ended December 31 2009

- Strong Operating Profit (EBITDA) of Rs. 289 Crores up 78% year over year, with an improved EBITDA margin of 16% (Vs 9% last year).

- Net Profits (PAT) of Rs. 174 Crores, up 275% year over year.

- Diluted EPS of Rs. 25 up by 254% year on year.

- ROCE at 24% vs 15% in last year.

- Power Transmission Business product sales with an improved EBITDA margin of 14% (Vs 8% last year).

- Telecom Products & Solutions Business sales with an improved EBITDA margin of 19% (Vs 12% last year).

- International sales reached about Rs. 465 Crores, approximately 26% of net revenues. Receipt of repeat orders from current customers and the addition of new eminent global customers in all of the company's focus regions.

- At the start of Q4FY10, the Company has a strong order book of about Rs. 2,150 Crores for its power and telecom products.

Financial & Business Highlights in Q3FY10

- Strong growth in operating performance, Q3FY10 EBITDA of Rs. 117 Crores (Vs. Rs 71 Crores in the last fiscal) backed up by strong volume growth and improved profitability.

- Diluted EPS of Rs. 10.50 for Q3FY10 (Vs Rs. 4.84 in the last fiscal).

- During the quarter, the Company won the 'Deloitte Technologies Fast 500 Asia Pacific Award 2009', 'Asia Pacific Enterpreneurship Award 2009 India', 'BSNL Best Telecom Equipment Manufacturer Award 2009' and '4th Employer Branding Awards 2009'.

- Grant of 3 more patents in India, taking the total up to 23 patents granted in USA, Europe, India & China.

Recommendation for Split and Bonus

The Board of Directors of the Company approved (a) Stock split by sub-division of the Equity Shares of the Company of the face value of Rs.5/- (Rupees Five) each to the face value of Rs.2/- (Rupees Two) each. (b) Issue of Bonus Shares in the ratio of 1:1. Post spilt and bonus issue, shareholders will get total 5 shares of Rs. 2 face value for each share currently held by them. The record date for the bonus issue and stock split will be announced following approval of these proposals by the shareholders.

Says Mr. Pravin Agarwal, Whole-time Director - Sterlite Technologies Ltd, "We are very pleased to be able to create value for our shareholders on long-term basis and also enhance liquidity of our shares, to allow more participation by the investors in Sterlite's success. This is in line with our philosophy of sharing the benefits of growth with all the stakeholders on sustained basis."

-end-

Also read....

......more from National Telecom, click here