Sterlite Technologies shows impressive growth in Q2FY18
Amir Shaikh / 16 Oct 2017
The company’s order book for the quarter stood at Rs 3832 crore. Moreover, the company launched a high-speed 5G-ready network solution named FlashFWD.
Sterlite Technologies, a leader in smart digital networks, today reported its second quarter results for financial year 2017-18.
The company reported total revenue of Rs 779 crore, which represents 42 per cent increase from corresponding quarter of last year. One of the reasons for robust revenue growth is the surge in exports which accounted for 51% of total revenue.
Sterlite’s EBITDA shows significant growth of 63 per cent YoY to Rs. 179 crore. Its bottomline also shows impressive growth of 40 per cent YoY to Rs. 71 crore.
The company’s order book for the quarter stood at Rs 3832 crore. Moreover, the company launched a high-speed 5G-ready network solution named FlashFWD. This network delivers a complete kit with high fibre counts suitable for 5G backbone in global city environments. It also started production at its new plant at Aurangabad, Maharashtra. The company expects to take its total capacity to 50 million fibre km by June 2019.
Investors, however, did not seem to be impressed by this result, as stock of Sterlite Technologies was trading at Rs. 263.6 at 1450 hrs, down by 2 per cent.
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