Sterlite Tech has announced the appointment of Sandip Das as Non-Executive and Independent Director to the Board of Sterlite Tech.
A founder of private telephony in India and a globally respected telecommunications professional, Sandip brings vast experience in leading transformation through strategic guidance in a highly evolving digital communications space.
Continuing with its high growth levels, Sterlite Tech posted second quarter revenues at Rs. 779 crore, up 42% YoY; EBITDA at Rs. 179 crore, up 63% YoY; and PAT at Rs. 71 crore, up 40% YoY. The company has been steadily increasing its global footprint, taking advantage of the surging global demands with its world-class solutions portfolio.
As the company entered new geographies and strengthened its presence in Europe and China, exports grew at 73% YoY, contributing 51% of total revenue. Sterlite Tech has been building on its leadership in this segment with order book reaching Rs. 3,832 crore.
Elaborating on the quarter performance, Dr. Anand Agarwal, CEO, Sterlite Tech said, “We are excited about the pace at which enterprises and consumers are embracing new technologies. Fibre continues to be the ideal medium for building smarter networks, and Sterlite Tech is the most integrated player globally with unique capabilities of creating fibre-based data networks – from base infrastructure to the software monetisation layer. We are seeing a major worldwide trend towards next-generation web-scale networks with processing and storage at the edge.”
Asserting the company’s growth prospects, Pravin Agarwal, Vice Chairman, Sterlite Tech said, “Our sustained strong financial performance over the quarters is a validation of our unique silicon to software capabilities. Technology innovation is at the core of the company, and we are constantly creating solutions that position us as a global leader driving digital transformation.”