Sterlite Tech Reports 77% Rise In Q4 PAT At Rs 112 Crore
Sterlite Tech has started FY19, with an all-time high order book of Rs 5,223 crore (year-on-year growth of 73 per cent).
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Technology company Sterlite Tech has reported 77 per cent surge in its Profit After Tax (PAT) for the fourth quarter ended March 2018. The company’s PAT for the said period stood at Rs 112 crore as against Rs 64 crore during Q4 FY17.
This increase has been attributed to growing operating leverage and improved capital structure.
The technology company has started FY19, with an all-time high order book of Rs 5,223 crore (year-on-year growth of 73 per cent).
Sterlite Tech’s Q4 revenue went up from Rs 707 crore in FY17 to Rs 847 crore in FY18, thereby registering growth of 20 per cent. Its EBITDA went up by 44 per cent at Rs 238 crore.
Its geographic revenues split is well balanced between domestic and exports, with exports accounting for about 54 per cent of the revenues in FY18, informed the company in an official statement.
Commenting on the company’s performance over past quarters and years, Dr Anand Agarwal, CEO, Sterlite Tech, said, “We are playing an integral role in creating the next-generation fibre and software-based smarter networks to connect the world, while delivering sustainable long-term performance. We are seeing a very strong wave of fibre deployment over the next 10 years due to exponential data growth and 5G deployments across the globe.”
“Our customers are entering into long-term contracts with us on the back of our ability to innovate for their needs. We continue to invest in technology for smarter digital networks that are software defined, centrally managed, scalable, open source with optimised capex models,” he added.
With technology led innovations being core to the company, its patent count has reached 189 as of FY18, offering strategic competitive advantage for market access and higher realisation from new products, which account for 14 per cent of the revenues.
In line with Sterlite Tech’s corporate philosophy, the Board of Directors have recommended a dividend of Rs 2 per share for FY18.