Sterlite expects optical fiber cables capacity to 33M fkm by June 2021; Optimistic on H2FY21

Sterlite expects continued growth in Q3 and Q4 on a QoQ basis, in accordance with the Vision 2023.

Oct 22, 2020 05:10 IST India Infoline News Service

Sterlite Technologies
Pune-headquartered Sterlite Technologies witnessed a net profit of Rs58cr during the quarter ending September 2020 (Q2FY21). Sterlite's 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.

The company registered revenue of Rs1,160cr, while an EBITDA of Rs212cr was recorded in the quarter.

As of September 2020, the company's order book stood at Rs10,705cr.

“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 requirements”, said Dr Anand Agarwal, Group CEO, STL.

He added, “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.”

Sterlite expects continued growth in  Q3 and Q4 on a qoq basis, in accordance with the Vision 2023.

The company has also initiated the expansion of its optical fiber cables capacity from 18M to 33M 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.

On Sensex, Sterlite's stock finished at Rs158.55 per piece up 4.48%. 

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