Financial Daily from THE HINDU group of publications
Thursday, Jan 13, 2005
Financial Daily from THE HINDU group of publications Thursday, Jan 13, 2005 |
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Info-Tech
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Financial Performance Sterlite Optical net at Rs 6.5 cr Our Bureau
Mumbai , Jan. 12 STERLITE Optical Technologies has reported a net profit of Rs 6.48 crore for the quarter ended December 31, 2004, as against a net loss of Rs 16.62 crore for the corresponding year-ago quarter. Revenues grew 300 per cent, to Rs 95.86 crore (Rs 23.86 crore). Other income for the quarter stood at Rs 26.4 crore (Rs 7.65 crore). The resurgence in the `wireline' business in the domestic market segment and a gradual global telecom recovery has helped overall sentiment and outlook for the next few quarters," said Dr Anand Agarwal, CEO, Sterlite Optical Industries. This is evident from not only from the near-doubling of revenues from the optical fibre cable segment, at Rs 41.4 crore (Rs 23.8 crore) but also a steep increase in revenues from the jelly-filled cable segment to Rs 54.4 crore, up from a negligible amount during the corresponding quarter of the previous year. Total expenditure rose to Rs 80.8 crore, up from Rs 32.7 crore. Profit before interest depreciation and tax amounted to Rs 17.69 crore as against a negative Rs 8. crore during the corresponding year-ago quarter. Net interest rose to Rs 2.8 crore (Rs. 0.9 crore). Operational cash profit amounted to Rs 14.9 crore, as against a loss of Rs 8.97 crore.
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