2Q 2020: Sterlite Technologies Posts Revenue of Rs 1,160 Crore

0
372

The company recorded revenues of Rs 1,160 crore, EBITDA of Rs. 212 crore, PAT of Rs 58 crore, and order book of Rs 10,705 crore

Sterlite Technologies (STL) has announced financial results for the second quarter ended September 30, 2020. The company recorded QoQ growth in revenues of Rs 1,160 crore, EBITDA of Rs 212 crore, PAT of Rs 58 crore, and order book of Rs. 10,705 crore. These operating and financial results were backed by diversified global wins and the company’s differentiated value proposition in delivering end-to-end digital network solutions across all customer segments.

“Our strong performance is a testament to the value we create for our customers by delivering solutions that enable them to achieve their current and future network requirement. Digital Network creators globally continue to invest aggressively in strengthening their current network, to increase reach and quality of their networks. Our strategic investments in building deep technology expertise, integrated digital network solutions, and global talent positions us strongly to address this market demand,” said Dr Anand Agarwal, Group CEO, STL.

The current situation, as the company noted, has rapidly accelerated the need for digital transformation globally. Digital network creators continue to invest aggressively in high capacity networks that are densely fiberised, scalable, disaggregated, virtualized, and future-ready. Networks for delivering next-gen services such as FTTH, 5G, IoT, Industry 4.0, and enhanced user experience with ubiquitous connectivity.

It is to be noted here that STL has collaorated with Airtel to deliver enhanced scalability, reduced latency, and improved bandwidth. The densely fiberized network, based on STL’s Opticonn and Lead 360 solutions will also form the foundation for many nextgen services. The company has also signed a few multi-year and multi-million dollar engagements to deploy Opticonn, wireless solutions, and FTTx Mantra solutions for marquee customers in Europe, the Middle East and Africa, India, and the US.

STL informed that it has also initiated the expansion of its optical fiber cables capacity from 18 million to 33 million fkm as the company’s strong customer engagement and solution offerings demonstrate positive long-term growth. The capacity expansion is expected to be complete by June 2021.

SHARE YOUR THOUGHTS & COMMENTS

Please enter your comment!
Please enter your name here

Are you human? *