Sterlite Technologies slumps after Q2 earnings

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Sterlite Technologies lost 6.94% to Rs 93.15 at 15:07 IST on BSE after net profit surged 134% to Rs 29 crore on 78% growth in revenue to Rs 1056 crore in Q2 September 2015 over Q2 September 2014.

The Q2 result was announced during market hours today, 26 October 2015.

Meanwhile, the S&P BSE Sensex was down 111.25 points or 0.4% at 27,359.56.

On BSE, so far 11.62 lakh shares were traded in the counter as against average daily volume of 4.81 lakh shares in the past one quarter.

The stock hit a high of Rs 101 and a low of Rs 92.80 so far during the day. The stock had hit a 52-week low of Rs 48.45 on 27 March 2015. The stock had hit a 52-week high of Rs 109.90 on 4 August 2015.

The stock had outperformed the market over the past one month till 23 October 2015, surging 20.89% compared with Sensex's 6.38% rise. The scrip had also outperformed the market in past one quarter, sliding 0.3% as against Sensex's 3.17% fall.

The mid-cap company has equity capital of Rs 78.92 crore. Face value per share is Rs 2.

Sterlite Technologies' earnings before interest, taxation, depreciation and amortization (EBITDA) rose 67% to Rs 136 crore in Q2 September 2015 over Q2 September 2014.

Sterlite Technologies develops & delivers solutions for high speed data communication and power transmission networks, globally.

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