Sterlite Optical Technologies' Q1 net revenue Rs 240 Crores
(Business News, 31 Jul 2007 )
Sterlite Optical Technologies Ltd, India’s only integrated optical fiber manufacturer and global provider of Telecom Cables and Power Transmission Conductors today announced its first quarter results with Net revenue of Rs 239.56 Crores and Net profit of Rs 12.74 Crores as compared to net revenue of Rs. 97.17 Crores and net profit of Rs. 3.32 Crores in the corresponding period last year.
At the end of Q1, the Company had an order book of Rs 1280 Crores for its telecom and power products. As per the delivery schedule requirements by customers, about 75% of these contracts would be executed during FY 2007-08.
Sterlite’s Highlights for the quarter:
In order to capitalize on the available market opportunities, the Company has achieved some significant milestones during this quarter:
· Intellectual Property: Product Patent awarded in USA for Sterlite DOF-LITE Optical Fiber · Contract: Awarded by MTNL for design & implementation of a Broadband & Metro Ethernet network in Delhi & Mumbai for 0.5 Million broadband connections. This contract is valued at Rs 169 Crores. · New Product: Sterlite BEND-LITE™ (E) Optical Fiber for Fiber-to-the-Premise (FTTx) applications · Approval: Specialized Power Transmission Conductor Products tested and approved by SAG, Germany · Export sales accounted for 31% of total sales revenues
Says Mr. Pravin Agarwal, Director, Sterlite Optical Technologies Ltd., “During this quarter, we believe we have laid the foundation for our Company’s future growth with the enhancement of our Intellectual Property portfolio, Product Development based on global market needs, Product Approvals with reputed global companies and establishment of our Telecom Integration and Managed Services Business. We have a strong order book for the year, wherein the synergetic benefits of combining our Telecom & Power Businesses is becoming more evident.”
