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Sterlite Technologies announced its results for the nine months

Sterlite Technologies' Nine-months Net Revenue up 50%; Strong order book of Rs 1415 Crores

Financial highlights: Nine months ended December 31, 2008

• Net Revenues reached Rs. 1,712 Crores (US$ 351 Million), up 50% year over year with an EBITDA margin of 9.3%. 
• Power product sales increased 55% year over year and telecom products/solutions sales increased 42% year over year.
• International sales showed a strong y-o-y growth by 36% to reach Rs. 488 Crores (US$ 100 Million), as compared to international sales of Rs. 358 Crores (US$ 80 Million) in the same period in FY08.

Financial highlights: Q3 2008-09

• Net Revenues reached Rs. 642 Crores (US$ 132 Million), up 28% year over year with an EBITDA margin of 11.0%.
• Net Profits reached Rs. 31 Crores (US$ 6.4Million), up 19% year over year.
• Power product sales reached Rs 427 Crores (US$ 87 Million) and telecom products/solutions sales reached Rs 215 Crores (US$ 44 Million).
• Strong cash flow during the quarter. Debt has reduced by Rs 190 Crores (US$ 39 Million); existing debt is below Rs 600 Crores (US$ 123 Million) as on December 31, 2008.

Business Highlights: Q3 2008-09

• At the start of Q4 FY09, the Company has a strong order book of about Rs. 1,415 Crores (US$ 290 Million) for its telecom and power products.
• PGCIL, BSNL & MTNL have actively continued their ordering processes for FY 2008-09.
• Receipt of repeat orders from current customers and the addition of new eminent global customers. International sales currently account for about 30% of the Company's net revenues.
• Launch of the 'Sterlite Fiber Powered Home' for enterprise and residential customers. This is a highly cost effective solution for any / all new network deployments.
• The Company won the Deloitte Technology Fast 50 India and Fast 500 Asia Pacific Awards 2008 for the fourth consecutive year.

Pravin Agarwal - Director, Sterlite Technologies says, "In the current financial year, sales volumes across all our businesses have been highest ever, compared with that in previous years. We remain focused on reducing cost structures, on developing new solutions for the power and telecom sectors and on enhancing our global footprint. With all our expansion projects on schedule, our Company on track to be amongst the Top 3 power conductors suppliers globally and amongst Top 5 integrated optical fiber & cable suppliers globally.  We believe we are poised to capitalize on global opportunities in our focus sectors."

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