Excellent Figures In Q4 -Sterlite Technologies - by mittar_b
Sterlite Technologies Limited India’s largest suppliers of Optical Fibers to overseas markets in China, Europe and South East Asia and global provider of Power Transmission Conductors and Telecommunication Cables announced excellent figures reported by the company in Fourth quarter.Net profit of company shot up by about 77.54% to Rs 34.30 crore in the quarter ended March 2008 as against Rs 19.32 crore during the previous quarter ended March 2007. Net Sales of the company rose by 40.74% to Rs 543.62 crore in the quarter ended March 2008 as against Rs 386.27 crore during the previous quarter ended March 2007 .While Total income of the company shot up from Rs 387.99 crores to Rs 545.07 crores in quarter ended March 31,2008. Expenditure of the company in Jan-March,2008 quarter rose from Rs 355.02 crores to Rs 483.36 crores. For the full year, net profit of the company surged by 98.03% to Rs 100.72 crore in the year ended March 2008 as against Rs 50.86 crore during the previous year ended March 2007. Net Sales of the company shot up by 40.70% to Rs 1685.79 crore in the year ended March 2008 as against Rs 1198.15 crore during the previous year ended March 2007. Net Exports of the company showed a strong growth by 75% to reach export revenues of Rs. 518 Crores as compared to Export sales of Rs. 296 Crores in previous year i.e year ended March,2007. International Sales of the company in this fiscal accounts for 31% of net revenues as compared to 25% in FY07.
Sterlite Technologies part of Sterlite Group was formerly known as Sterlite Optical Technologies Ltd. The Company has a world class Optical Fiber manufacturing plant located at Aurangabad, India and Telecom Cable & Power Transmission Conductor plants at Silvassa, Haridwar ,Pune etc; and currently supplies about 27% of India's total demand for power transmission and distribution conductors. Sterlite was the sole manufacturer and supplier of over 4200 km of ACSR Bersimis Conductors that were installed in Circuit-I of the 351 km route of the Sipat-Seoni EHV Transmission Line that connects the Indian states of Chattisgarh & Madhya Pradesh .Recently company announced its plans to expand its Fiber Optic Cables facilities to an annual manufacturing capacity of 6 Million-km, from its current capacity of 2 Million-Km. This expansion in conjunction with the Optical Fiber Expansion from 6 to 12 Million-kms that would position Sterlite amongst the Top 5 global integrated fiber and cable producers. Company has received three contracts from Power Grid Corporation of India (India's single largest buyer of Power Transmission Conductors ) that have a cumulative value of Rs 296 crore. Pune-based, Sterlite received order for supply of conductors for Korba-Birsinghpur-Damoh-Bhopal Transmission Lines, Gorakhpur-Lucknow Transmission Lines and Vapi-Khadoli Transmission Lines in Madhya Pradesh, Uttar Pradesh and Maharashtra, respectively..In February 2008, Sterlite Technologies bagged an order worth $17.5 million from Ethiopian Electric Power Corporation, Ethiopia for manufacture and supply of AAAC power transmission conductors. In January 2008, the company received a contract worth Rs 140 crore from Rajasthan Rajya Vidyut Prasaran Nigam, India for manufacture and supply of ACSR moose power transmission conductors.The Company won the Deloitte Technology Fast 500 Asia Pacific & Fast 50 India Awards 2007, IMC-RBNQA – Certificate of Merit 2007 and the Dun & Bradstreet Corporate Award 2007 for Telecom Equipment. Currently Dr. Anand Agarwal is working as CEO of the company. Company is listed on the National Stock Exchange and Stock Exchanges at Mumbai and Kolkatta.