Pune-based Sterlite Technologies announced its Q3 financial results today posting net profit of Rs 74 crore as compared to Rs 31 crore during corresponding quarter last year at a growth rate of 138.7%.

Revenues increased from Rs 642 crore to Rs 867 crore on a yoy comparison. EBITDA increased from Rs 71 crore to Rs 117 crore. EPS at the end of Q3 was Rs 10.50 as compared to Q3 09 EPS of Rs 4.84.

The Telecom Products and Solutions business unit witnessed an EBITDA margin of 19% as compared to 12% last year.

The company has an order book of Rs 2,150 crore for its power and telecom products.

 The Board of Directors of the Company approved (a) Stock split by sub-division of the Equity Shares of the Company of the face value of Rs.5/- (Rupees Five) each to the face value of Rs.2/- (Rupees Two) each. (b) Issue of Bonus Shares in the ratio of 1:1. Post spilt and bonus issue, shareholders will get total 5 shares of Rs. 2 face value for each share currently held by them.

The record date for the bonus issue and stock split will be announced following approval of these proposals by the shareholders.

Says Mr. Pravin Agarwal, Whole-time Director - Sterlite Technologies Ltd, "We are very pleased to be able to create value for our shareholders on long-term basis and also enhance liquidity of our shares, to allow more participation by the investors in Sterlite's success. This is in line with our philosophy of sharing the benefits of growth with all the stakeholders on sustained basis."