Sterlite Technologies reports 134 per cent year-on-year growth in its standalone net profit for the quarter ended September 2015

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Sterlite Technologies reports 134 per cent year-on-year growth in its standalone net profit for the quarter ended September 2015

October 27, 2015

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Sterlite Technologies has reported an increase of around 134 per cent in its standalone net profits from Rs 125.6 million for the quarter ended September 2014 to Rs 294 million for the quarter ended September 2015. This can be attributed to a strong growth of approximately 78.3 per cent in its revenues from Rs 5.92 billion to Rs 10.56 billion.

Meanwhile, revenues from telecom products and solutions business for the quarter ended September 2015 stood at Rs 4.78 billion, an increase of 13 per cent over Rs 2.87 during the corresponding quarter in 2014. Further, at present, the telecom order of the company book stands at Rs 20.09 billion.

During the quarter ended September 2015, the company had acquired telecom software product firm Elitecore Technologies for Rs 1.8 billion that will be soon merged into Sterlite Technologies.