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Written by / Agency / Source: Sterlite Optical Technologies Ltd

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Sterlite Optical Technologies’ Q1 Net Revenue Rs 240 Crores - Export revenues account for about 31% of total revenues; Order book of Rs 1280 Crores
Sterlite Optical Technologies’ Q1 Net Revenue Rs 240 Crores

 

NewswireToday - /newswire/ - Pune, Maharashtra, India, 2007/07/27 - Export revenues account for about 31% of total revenues; Order book of Rs 1280 Crores.

   
 
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Sterlite Optical Technologies Ltd, India’s only integrated optical fiber manufacturer and global provider of Telecom Cables and Power Transmission Conductors today announced its first quarter results with Net revenue of Rs 239.56 Crores and Net profit of Rs 12.74 Crores as compared to net revenue of Rs. 97.17 Crores and net profit of Rs. 3.32 Crores in the corresponding period last year.

At the end of Q1, the Company had an order book of Rs 1280 Crores for its telecom and power products. As per the delivery schedule requirements by customers, about 75% of these contracts would be executed during FY 2007-08.

In order to capitalize on the available market opportunities, the Company has achieved some significant milestones during this quarter:

• Intellectual Property: Product Patent awarded in USA for Sterlite DOF-LITE Optical Fiber.

• Contract: Awarded by MTNL for design & implementation of a Broadband & Metro Ethernet network in Delhi & Mumbai for 0.5 Million broadband connections. This contract is valued at Rs 169 Crores.

• New Product: Sterlite BEND-LITE (E) Optical Fiber for Fiber-to-the-Premise (FTTx) applications.
Approval: Specialized Power Transmission Conductor Products tested and approved by SAG, Germany.

• Export sales accounted for 31% of total sales revenues.

Says Mr. Pravin Agarwal, Director, Sterlite Optical Technologies Ltd., “During this quarter, we believe we have laid the foundation for our Company’s future growth with the enhancement of our Intellectual Property portfolio, Product Development based on global market needs, Product Approvals with reputed global companies and establishment of our Telecom Integration and Managed Services Business. We have a strong order book for the year, wherein the synergetic benefits of combining our Telecom & Power Businesses is becoming more evident.”

About Sterlite Optical Technologies Ltd

Sterlite Optical Technologies Ltd (sterliteoptical.com) is India’s only and leading global provider of Optical Fibers, Telecommunication Cables and Power Transmission Conductors. It is India's only fully integrated Optical Fiber producer and one of the largest suppliers of Optical Fibers to overseas markets in China, Europe and South East Asia.

 
 
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Written by / Agency / Source: Sterlite Optical Technologies Ltd

 
 

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Sterlite Optical Technologies’ Q1 Net Revenue Rs 240 Crores

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Publisher Contact: Keith Dsilva - Sterlite.com 
+91 20 30514000 keith.dsilva[.]sterlite.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Sterlite Optical Technologies Ltd securities in any jurisdiction including any other companies listed or named in this release.

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