Sterlite Technologies has posted an exponential growth of 29 percent in its profit at Rs.40 crore for the quarter ended June 30, 2016.
The communication cable manufacturer's profit stood at Rs.31 crore in the year-ago period. The company's total income increased to Rs.565 crore during the period under review from Rs.463 crore in the same quarter, a growth of 22 percent.
Earnings before interest, tax, depreciation, and amortization grew 21 percent to Rs.124 crore from Rs.102 crore in the same quarter last year. EBITDA margin, on the other hand, fell to 20.35 percent from 21.59 percent year-on-year. The growth drivers for the company are mobile data broadband infrastructure requirements for 4G/LTE by telecom companies, smart cities requiring basic broadband infrastructure for smart applications, global data growth, served through presence in China, Brazil, and Europe and broadband infrastructure for defense and other utilities.