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Sterlite Tech's Q1FY17 Profits up 30%; Introduces Smarter NetworksPUNE, India, July 25, 2016 /PRNewswire/ -- Sterlite Technologies Ltd [BSE: 532374, NSE: STRTECH] today announced its financial results for the quarter ending June 30, 2016. Sterlite Tech is a focused pure-play telecom company, which designs, builds and manages data networks. Growth dynamics Global Telcos are witnessing increasing data traffic over 3G/4G networks, leading to rapid growth in data revenue. This growth is fuelled by demand for high-bandwidth consuming applications and the continuous evolution of mobile devices with Internet-based technologies. Sterlite Tech's growth drivers are:
For these growth drivers, Sterlite Tech is positioned uniquely to play an integral role in designing, building and managing the optical-fibre based broadband infrastructure. Sterlite Tech's offerings include:
Financial Highlights for Q1FY17 (Consolidated)
Particulars Q1FY2016 Q1FY2017 % Growth Revenue 463 565 22 EBIDTA 102 124 21 PAT 31 40 30 All figures are in Ind AS & in Rs crore, except growth Highlighting the results, Pravin Agarwal, Vice Chairman, Sterlite Technologies, said, "The growth in our business and robust order books are reflective of the large opportunities surfacing in the telecom space for us. Our strong focus on technology and engineering design for smarter network delivery has given us a distinctive edge against the competition to lead India's transformation towards adopting true broadband infrastructure." Citing growth opportunities, Dr. Anand Agarwal, CEO, Sterlite Technologies, said, "We continue to remain bullish on India, while expanding our global footprint with new products and customers. Broadband infrastructure needs to get created throughout the country and we are architecting such smarter networks by bringing world-class design, execution and management capabilities with our end-to-end offerings." Business and Operational Highlights
About Sterlite Technologies: Sterlite Technologies Limited designs, builds and manages smarter networks. Sterlite Tech is a pure play telecom focussed business that develops and delivers optical communication products, network and system integration services and software solutions for telecoms globally. Sterlite Tech is among the leaders in all its business areas and has operations on a global scale with manufacturing presence in India, China and Brazil. Sterlite Tech aims to transform everyday living by delivering smarter networks. Sterlite Tech is India's only fully integrated provider of optical fibre preforms, optical fibres and cables. With a strong portfolio of over 125 patents, Sterlite Tech is home to India's only Centre of Excellence for broadband research. Projects undertaken by the company include intrusion-proof secure network for the Armed Forces, rural broadband for BharatNet, Smart Cities' development, and establishing high-speed Fibre-to-the-Home (FTTH) networks. For more details, visit http://www.sterlitetech.com. For details, contact: |