Sterlite Technologies reports a fourfold increase in its standalone profits for quarter ended March 2015

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Sterlite Technologies reports a fourfold increase in its standalone profits for quarter ended March 2015

May 19, 2015

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Sterlite Technologies has reported an increase in its standalone net profit from Rs 101.50 million for the quarter ended March 2014 to Rs 391.30 million for the quarter ended March 2015. The standalone results include both telecom and power business. Further, almost 90 per cent of profit is contributed by the telecom operations. The company's standalone revenues increased by 51.62 per cent from Rs 6.45 billion to Rs 9.79 billion.

For the full year ended March 2015, the standalone net profit stood at Rs 842.4 million, an increase of over 67.8 per cent from Rs 502 million during the year ended March 2014. The revenue on standalone basis increased by 11.14 per cent from Rs 27.26 billion for the year ended March 2014 to Rs 30.30 billion for the year ended March 2015.

The company has also decided to restructure itself into a pure-play telecom products and solutions company, while the power business will be hived-off into a separate entity.