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Sterlite Technologies registers 17.5 per cent rise in consolidated net profit during QE June 2019

July 19, 2019
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Sterlite Technologies Limited (STL) has reported a 17.5 per cent increase in its consolidated net profit, which increased from Rs 1.2 billion during the quarter ended (QE) June 2018 to Rs 1.41 billion during the QE June 2019.

According to the company, the rise can be attributed to growth in exports and sales of value-added products.

Further, STL’s revenue increased by around 63 per cent from Rs 8.77 billion during the QE June 2018 to Rs 14.32 billion during the QE June 2019. Around 36 per cent of the company’s revenue (about Rs 5.5 billion) came from exports. Moreover, the company’s revenue from the domestic market increased by 80 per cent and stood at Rs 9 billion due to traction from three domestic telecom players and delivery of communication network project for the Indian Navy.

The company’s order books stood at around Rs 100 billion with fresh inflow to the tune of around Rs 7.5 billion.

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