Sterlite Technologies’ Q3 FY21 Profit Up 77% YoY
Sterlite Technologies Ltd. (STL), one of the leading integrator of digital networks and manufacturer of optical fiber cables in India announced financial results for the third quarter ended December 31, 2020.
Comparison of STL’s Q3 FY21 Results
Consolidated Financial Results of Q3 FY21 v/s Q3 FY20
Total Revenue of Sterlite has gone up by 9.3% in Q3 FY21 amounting to Rs. 1,314 Cr. as compared to Rs. 1,202 Cr. of Q3 FY20. Net Profit of the company in Q3 FY21 has increased enormously by 77.5% to Rs. 87 Cr. as compared to Rs. 49 Cr. of Q3 FY20.
Consolidated Financial Results of Q3 FY21 v/s Q2 FY21
Revenue grew up by 13.3%, up from Rs. 1,159 Cr in Q2 FY21. Net Profit of the company has gone up by 58% from Rs. 55 Cr. in Q2 FY21.
Order Book of Sterlite Technologies stood at Rs. 10,737 crores at the end of December 2021.
During the 3rd quarter Sterlite Technologies Ltd. had also announced its decision to invest Rs. 300 Cr for expansion of capacity from 18 million fibre Km (FKm) to 33 million Fkm.
Commenting on Sterlite Technologies’ Performance of Q3 FY21, Dr. Anand Agarwal, Group CEO, STL said “Post 2020, we are looking at a decade of extensive network creation. Mindful of this, we have invested in strong global talent and built solutions that can deliver best-in-class digital networks across the globe. Our philosophy of deep customer engagement, coupled with sustained investments will help drive profitable growth for our key accounts, as they deliver the best digital experience to their customers“, as mentioned in STL’s press release dtd. 20th January 2021.
About Sterlite Technologies Ltd.: STL is a global leader in end-to-end data network solutions, and headquartered in Pune, Maharashtra. STL has offices in India, China, USA, SE Asia, Europe and the MEA region. The company is specialized in optical fiber and cables, hyper-scale network design, and deployment, and network software and offers bespoke integrated solutions.