BENGALURU, May 17 (Reuters) - Indian networking solutions provider Sterlite Technologies Ltd (STTE.NS) swung to a fourth-quarter profit on Wednesday, aided by strong growth in its mainstay optical networking business.
The company's consolidated net profit stood at 650 million rupees ($8 million) for the quarter ended March 2023, compared to a net loss of 220 million rupees a year ago, it said in an exchange filing.
Consolidated revenue from operations jumped 25% to 18.72 billion rupees, the company said.
Optical networking business, which contributed a hefty 80% of the company's topline, grew 40% to 15.05 billion rupees.
Additionally, the company declared a final dividend of 1 rupee per share and approved fundraise of up to 10 billion rupees.