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breaking news Analyzing Cash Generation to Reduce Debt for Q4 23: Sterlite Technologies

Sterlite Technologies has sold a minority stake in Metis Eduventures for a consideration of Rs 45 million.

In an interview with CNBC-TV18, Ankit Agarwal, MD of Sterlite Technologies, said: “In terms of Metis Eduventures, it was a minority investment in the education and education technology space. Not being part of our primary focus in terms of growth, we decided to exit this investment. To that extent, we have been using all of these cash withdrawals to reduce our debt. “

Agarwal added: “In terms of our approach, what we’ve talked about is that for the fourth quarter of fiscal 23, we are looking to reduce our net debt to equity to about 0.5. So now we are very focused on generating cash from the business and using it to reduce debt. “

On the fiber optic cable market, Agarwal said: “It’s a pretty exciting time right now, in terms of 5G deployments globally. We’re seeing a significant number of first-tier carriers around the world, especially in Europe, parts of Asia, including China, as well as the US So with that, we’re seeing a tremendous need for fiber optic infrastructure. ” .

“Overall, we believe that to create a high-quality 5G network, you need 10-20 times the number of small cells and micro cells, and all of this will need to be supported by fiber. So this presents a great opportunity for networking, ”he mentioned.

For full management comments, watch the video.

(Edited by : Dipikka ghosh)



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