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Sierra Cables Plc, wins Rs872mn power cable deal

ECONOMYNEXT – Sri Lanka’s Sierra Cables Plc, a publicly traded company had won an 872 million rupee deal to supply cables to state-run Ceylon Electricity Board.

The cabinet of ministers had approved a proposal to buy the cables from Sierra cables for 872.96 million rupees.

Sierra will supply 3×70+54.6+16sqmm aerial bundled cables.

Sierra Cable Plc group lost 8.08 million rupees in December 2017 quarter, down from a profit of 103 million rupees a year earlier.

Revenues fell to 1,086 million rupees in the quarter from 1,102 million a year earlier, costs rose to 932.8 million rupees from 884.7 million rupees and gross profits fell to 133 million rupees from 218 million rupees. (Colombo/Mar04/2018)

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