Telecom News --

Sterlite Technologies posts EBITDA of Rs 233 Crores for 9-months of FY11

Pune, India, 01 February, 2011

Sterlite Technologies Limited "Sterlite" [BSE: 532374, NSE:STRTECH], a leading global provider of transmission solutions for the power and telecom industries, announced its results for the quarter and nine-months ended December 31, 2010.

Financial highlights for the nine months ended December 31 2010

• Net revenues of Rs. 1,580 Crores, EBITDA of Rs. 233 Crores and net profit of Rs. 130 Crores.
  
  
• The Company maintained operating profitability at 14.7% for the nine-month period.
  
  
• Revenue from international sales during the period accounts for Rs. 474 Crores, which is about 30% of net revenues.
  
  
• Significant progress was made in the Indian private sector for telecom and power businesses, with about 41% of revenues earned from this industry segment.
  
  
• Sales to Europe and the Americas accounted for about 43% of the total international sales. Sales to China and Africa were about 37% of the total international sales.
  
  
• The power business earned revenues of Rs. 1,092 Crores in the nine-month period; an EBIDTA margin of 9.1%.
  
  
• The telecom business earned revenues of Rs. 489 Crores in the nine-month period; an EBIDTA margin of 27.3%.
  
  
• We start the Q4 FY11 with a strong order book of about Rs 1,700 Crores (~US$ 378 Million).

Business highlights in Q3 FY11

• Good Tier-1 clients added and strategic product approvals received for all businesses, across geographies.
  
  
• With the expanded capacities coming online, optical fiber and fiber optic cables business did the highest-ever sales volumes.
  
  
• Sterlite and Jiangsu Tongguang Communication Company, agreed to form a joint venture company in Haimen, Jiangsu Province, China to manufacture, market and distribute optical fiber used in the production of fiber optic cables.
  
  
• Awards: '10th Greentech Environmental Excellence Award 2010', '5th Employer Branding Awards 2010-11', 'Spotlight Award 2010' for Sterlite's Annual Report 2009-10 from LACP (League of American Communication Professionals)

Update of capacity expansions

• The capacity expansion project for power conductors, from 115,000 MT to 160,000 MT, has been completed and the Company should see the utilization of this capacity in the coming quarters.
  
  
• The capacity expansion project for optical fibers, from 12 mn-km to 20 mn-km, is on track for completion within the scheduled timeline.

Mr Pravin Agarwal, Wholetime Director - Sterlite Technologies says, "Our Company has a business model for sustainable growth and an effective strategy & management team is in place to drive our business. I am confident that as a Company, we are resilient to withstand the near-term challenges posed by a dynamic environment. We are working actively towards ensuring a return to our normal performance, with expanded capacities and good order book for FY12 and beyond."

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