PUNE, India: Sterlite Technologies Limited [BSE:532374, NSE: STRTECH], a leading global provider of transmission solutions for the telecom and power industries, today announced its second quarter and half year results for financial year 2014.
â¢ Sterlite closed H1 of FY 14 with EBITDA of Rs. 144 Cr over revenues of Rs. 1401 Cr translating into a profitability margin of 10%.
â¢ Net income for the company has improved by 120 basis points from Rs. 23 Cr in H1 FY 13 to Rs. 35 Cr in H1, FY14.
â¢ The company had a healthy flow of orders in the quarter and starts the Q3, FY 14 with a strong open order book of Rs. 2500 Cr.
â¢ Q2 FY14 accounted for International revenues of Rs. 270 Cr. (42% of total revenues).
In the Telecom Segment
â¢ Launch of 3 new products in the Bend-insensitive, BOW-LITE family of fiber, extending the telecom portfolio catering to FTTx applications.
â¢ Global footprints expanded with orders from one of the fastest growing telecom companies in Africa.
â¢ Received one of largest cable orders in the last 3 years from a leading domestic operator which will be using Sterlite's enhanced fiber.
In the Power segment
â¢ Strengthened global presence with entry into two new geographies with exports now contributing more than 50% of the open order book.
â¢ Secured the largest export order ever (~ 95 M USD) in the Latin America market.
In the Infrastructure segment
â¢ Successful completion of the first line (Purnia - Bihar Sharif) for the ENICL, India's first Ultra mega transmission project in a record period of 26 months.
â¢ Two new projects won in this Quarter: RAPP 7, 8 and ERSS - 7, with total project outlay of Rs. 650 Cr.
Standalone 6 Months ended
Financials Quarter Ended September 30 Year ended March 31
Sep 13 June 13 Sep 12 2013 2012 2013
(Rs Crore) 642 758 842 1401 1708 3354
(US$ Mn) 117 138 153 255 311 610
Crore) 58 85 54 144 128 260
Mn) 11 16 10 26 23 47
PAT (Rs Crore) 12 23 4 35 23 47
PAT (US$ Mn) 2 4 1 6 4 9
(Rs.) 0.3 0.6 0.1 0.9 0.6 1.2
Assumption US$ = Rs. 55
"We continue to see consistent demand visibility for optical fiber and power conductors across geographies driven by trends like National Broadband Plan, 4G and improving regulatory environment in power sector. In a challenging economic environment, we remain committed to our strategy and our customers, and we are encouraged by increasing customer interest in our end-to-end solutions offerings," says Mr. Pravin Agarwal, Whole-time Director, Sterlite Technologies Limited.
About Sterlite Technologies Limited
Sterlite Technologies Limited ("Sterlite") [BSE: 532374, NSE: STRTECH], is a leading global provider of transmission solutions for the power and telecom industries. Equipped with a product portfolio that includes power conductors, optical power ground wire, EHV/HV power cables, optical fibers, telecommunication cables and a comprehensive telecom systems / solutions portfolio, Sterlite's vision is to 'Connect every home on the planet'.
Primary Media Contact: Ravindra Utgikar, email@example.com, 91-20-30514000
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