- Sterlite Technologies (STL) had recently won a contract worth Rs 1,100 crores project in Telangana, India
- The company is of the view that global data consumption will grow by five to six times in the next five years
STL has announced financial results for the third quarter ending 31 December 2019. The company’s order book has now grown to Rs 8,535 crore.
“Amidst long term data network growth, the market environment in 2019 witnessed uncertainty and sluggish growth on account of the economic downturn. Within this business environment globally, we increased our order book over the last quarter and have shown a 21 per cent revenue growth (nine-months YTD) as compared to last year,”noted Dr Anand Agarwal, group CEO, STL.
Optical fiber company to an end-to-end data networks integrator
Dr Alok Agarwal has also credited STL’s decision to transform into an end-to-end data networks integrator as one of the prime reasons behind the performance of STL. The company, was earlier functional as a optical fiber company only.
“Our transformation from an optical fiber company to an end-to-end data networks integrator has significantly increased our overall addressable market. We continue to be extremely bullish and focused on our data network integration capabilities by investing in growth areas such as Data Centers and Wireless solutions,” added Dr Agarwal.
The revenue figures shared by STL for the quarter stand at Rs 1,203 crore. Earnings before interest, tax, depreciation and amortization, as shared by STL stand at Rs 247 crore whereas the profit after tax figures at Rs 91 crore.
Projects STL is working on
STL informed that is has completed 65 per cent of the Indian Navy project. It has also established the first ever data Centre for Navy’s seamless transition to new-age applications. Over 55 per cent of Mahanet project has also been delivered with network infrastructure deployment to over 2000 gram panchayats by the company
The company was also awarded with T-Fiber project worth about Rs 1100 crore recently. This project requires STL to deliver digital infrastructure to six million rural citizens of Telangana. STL was also recently selected by Telekom Albania for its multi-year, multi-million dollar digital transformation program. The company is of the view that global data consumption will grow by five to six times in the next five years