Sterlite Electric Unlisted Shares
Sterlite Power net profit rises 30 pc to Rs 322 cr in 2022-23
The Hans India
2 min read
Sterlite Power’s standalone net profit up by 30% for FY 2022-23, backed by higher revenues.
Pratik Agarwal, MD of Sterlite words
"The results demonstrate our continuous focus on garnering new opportunities and operational efficiencies and underscore our commitment to be a key player in building the nation's energy landscape".
Justification
Sterlite Power, a leading power player’s standalone net profit stands at Rs 322.01 crore in FY 2022-23, an increase of 30% from FY 2021-22’s standalone net profit of Rs 246.57 Cr.
The Company’s revenue from operation also rose by 3% from Rs 3,797.38 in FY 2021-22 to Rs. 3,923.51 Cr in FY 2022-23.
Recently Rs 75,408 Cr worth of power transmission projects have been approved by the 14th National Committee on Transmission (NCT) and are likely to be awarded this year through the bidding route, the company plans to win it.
Sterlite’s increase in net profit by a significant percentage indicates the company’s operational efficiency & effectiveness in increasing revenues.
The company, with a strong focus on making ample use of new opportunities, will pave its way for profitability in the future.
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