In the quarter ended December 31, 2021, the company's net profit was 137.10 crore, according to a regulatory filing on Wednesday by Broadband technology company Sterlite Technologies STL.
The company had a net profit of Rs 87 crore in the corresponding quarter last year.
STL had a net profit of Rs 105.74 crore in the previous quarter ended September 2021, down from Rs 1,580 crore clocked in Q 2 FY 22. The company had a revenue of Rs 1,340 crore in Q 3 FY 21.
In response to the Q 3 results, Ankit Agarwal, Managing Director, STL, said: "With some fundamental strategic shifts STL is rapidly progressing towards its ambition of building future-ready digital networks worldwide. We are confident that we will deliver the most advanced solutions in the areas of 5 G, FTTx and rural connectivity and transform billions of lives through digital networks. The company said in its filing that it reached a robust order book of 11,700 crore in the December quarter.
STL took some bold bets to drive aggressive growth over the past few quarters.
Many of its strategic investments have been converted into large scale revenues and new technologies are market ready.