\n
\nThe profit, according to the company was led by its growing export sales and strong order book.
\n
\nThe company also reported its highest ever quarterly revenue with export sales of Rs 320 crore and highest order book of Rs 3,140 crore at the end of Q1 of FY 2018 quarter.
\n
\nThe company’s quarterly revenue stood at Rs 744 crore which was up 23% from Rs 603 crore in the previous year. For the quarter, EBITDA closed a Rs 162 crore which was up 32% from Rs 122 crore year-on-year.
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Sterlite Tech<\/a> is involved in smart city projects, rural broadband said that it is on track to achieve its 30 million fkm expansion<\/a> by middle of this financial year. It is now working towards capacity expansion<\/a> to 50 million fkm, to be completed by June 2019.
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“Our strategy to design, build and manage broadband networks is augmenting well in the domestic and international markets leading to organic growth. With our unique silicon-to-software capabilities, we are able to address the requirements of web-scale networks for all new transformational technologies such as Cloud Computing<\/a>, Internet of Things (IoT), M2M and Augmented Reality<\/a> (AR),” said Anand Agarwal, CEO, Sterlite Tech.
\n
\n“As the world moves toward the next phase of digital evolution through global governments’ focus on the creation of Gigabit societies, smart cities and rural broadband, we will continue to see sustained long-term growth with our unique IOT integration capabilities,” added Agarwal.
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\nThe company in the quarter commercially launched technologies including FTTX smarter network kit, indicium lite cable, atlas lite cable and olympus lite cable, globally.
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It also won an order to enable a leading global operator with Wi-Fi SMP and VoIP<\/a> solutions to launch Wi-Fi access and Voice over IP services.<\/body>","next_sibling":[{"msid":59665067,"title":"AI to drive products and services by 2020: Gartner","entity_type":"ARTICLE","link":"\/news\/ai-to-drive-products-and-services-by-2020-gartner\/59665067","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":59665234,"entity_type":"ARTICLE","title":"Sterlite Tech's profit increases 61% to Rs 61 crore in Q1, FY 2018<\/b>","synopsis":"Sterlite Tech on Wednesday reported an increase of 61% in profit after tax which was Rs 38 crore in the same quarter last year and is now Rs 61 crore, owing to its export sales and strong order book.","titleseo":"telecomnews\/sterlite-techs-profit-increases-61-to-rs-61-crore-in-q1fy18","status":"ACTIVE","authors":[{"author_name":"Tina Gurnaney","author_link":"\/author\/479244810\/tina-gurnaney","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479244810.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479244810,"author_name":"Tina Gurnaney","author_seo_name":"tina-gurnaney","designation":"Correspondent","agency":false}}],"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2017-07-19 15:27:33","lastupd":"2020-01-06 11:38:30","breadcrumbTags":["Sterlite Tech","expansion","VoIP","augmented reality","Telecom equipment","Cloud computing"],"secinfo":{"seolocation":"telecomnews\/sterlite-techs-profit-increases-61-to-rs-61-crore-in-q1fy18"}}" data-news_link="//www.iser-br.com/news/sterlite-techs-profit-increases-61-to-rs-61-crore-in-q1fy18/59665234">