Telecom News --

Sterlite Technologies quarterly net profit up 22%

Pune, India, 19 July, 2010

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 ended June 30, 2010.

Financial highlights for the quarter ended June 30, 2010

• Sterlite closed Q1FY11 with revenues of Rs. 492 Crores, which is a growth of 13% over that in Q1FY10.
  
  
• EBITDA and net profit for the quarter were Rs. 88 Crores and Rs 56 Crores respectively.
  
  
• The company maintained operating profitability at 18%.
  
  
• Net profit growth of 22% over Q1 of the last fiscal.
  
  
• The Company's optical fiber and fiber optic cables business segments have shown good volume growth as a result of expanded capacities coming online during the quarter.
  
  
• Revenue from international sales during the quarter accounts for Rs. 111 Crores, which is 22% of net revenues. Good Tier-1 clients added for all businesses, across geographies.
  
  
• The power business earned revenues of Rs. 340 Crores in Q1FY11; a growth of 15% year-on-year.
  
  
• The telecom business earned revenues of Rs. 152 Crores in Q1FY11; a growth of 9% year-on-year.
  At the start of Q2FY11, the Company has a strong order book of over Rs 2,600 Crores (~US$ 580 Million) as compared to order book of Rs 1,600 Crores (~ US$ 356 Million) at the end of Q1 FY10.

Business highlights in Q1FY11

• Completion of the acquisition of East-North Interconnection Company Limited (ENICL), which was the SPV (Special Purpose Vehicle) created by Power Finance Corporation Limited (PFC) to establish two 400KV Double Circuit Quad Transmission lines on 'Build, Own, Operate and Maintain' basis. ENCIL is a wholly owned subsidiary of Sterlite Technologies Limited.
  
  
• Launch of 'Sterlite ECO.101 Data Cables' that are a revolutionary concept in structured cabling. As the cables are devoid of halogen elements, they pose no health hazard, are eco-friendly and use minimal, fully recyclable packaging.
  
  
• Grant of 3 more patents in India, taking the total up to 26 patents granted in USA, Europe, India & China.
  
  
• Award: CMAI INFOCOM National Telecom Award 2010 (Fastest Growing System Integrator).

Mr Pravin Agarwal, Whole-time Director - Sterlite Technologies says, "We continue to drive our business through scaling of volume, enhancement of our global client footprint, stringent focus on costs and advances in technology. We also ensure a strong connection with the needs of our stakeholders, which enables us to make strategic decisions, investments, and organizational moves to support the future."

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