Sterlite Tech has reported a 16.27 percent jump in consolidated net profit to 63.66 crore in the January – March 2017 quarter, mainly on account of demand for fiber to build high-speed networks. The company had posted a net profit of 54.75 crore in the quarter period a year ago.
The revenue of Sterlite Tech increased by 15 percent during the reported quarter at 707.16 crore from 613.93 crore in the corresponding quarter of 2015-16. For the fiscal ended March 2017, Sterlite Tech registered 31 percent increase in net profit at 201 crore compared to 154 crore at the end of 2015-16. The annual revenue of the company grew by 14 percent to 2593.56 crore from 2274.86 crore during the period under review. The company crossed the milestone of transforming digital infrastructure in over 100 countries and enabled the creation of smarter broadband networks in some of the toughest terrains of the world, including in Iceland, Amazonian rain forests, and Jammu and Kashmir during 2016-17.