Shares of Sterlite Technologies Ltd. jumped nearly 8 percent after the optical fibre maker reported its highest-ever quarterly revenue.
Revenue rose 23 percent year-on-year to Rs 744 crore for the three-month period ending June, driven by a "strong order book and export sales", the company said in exchange filing. Net profit rose 61 percent year-on-year to Rs 61 crore.
The demand for optical fibre showed consistent upward trend backed by favourable market conditions, the company said. It plans to expand its capacity to 50 million fibre kilometers by the year 2019.
Key Highlights
- Clocked record export sales at Rs 320 crore
- Return on capital expenditure stood at 26 percent for the first quarter.
- Earnings before interest, tax, depreciation and amortisation rose 32 percent to Rs 122 crore
- Order book reached its highest point at Rs 3,140 crore at the end of the quarter
“We are expecting margins to be in the range of 21-22 percent going forward,” CEO and Whole-time Director Anand Agarwal told BloombergQuint in a phone interview.
He said the company will add to its capacity in China, which has been running at 100 percent. “We are looking to increase the capacity from 30 million km to 50 million km.”
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