Sterlite Technologies slumped 11.15% to Rs 129.10 after consolidated profit before tax (PBT) fell 20.9% to Rs 161.10 crore in Q2 September 2019 as against Rs 203.70 crore in Q2 September 2018.
The result was announced after market hours yesterday, 24 October 2019.
On a consolidated basis, net profit rose 21.6% to Rs 159.56 crore on a 25.4% increase in net sales to Rs 1359.69 crore in Q2 September 2019 over Q2 September 2018.
Standalone net profit jumped 48.1% to Rs 159.97 crore on a 24.4% increase in net sales to Rs 1263.66 crore in Q2 September 2019 over Q2 September 2018.
Meanwhile, the S&P BSE Sensex was down 18 points or 0.04% to 39002.85.
On the BSE, the trading volume was 4.35 times the two week average daily volumes of 1.89 lakh shares as 8.24 lakh shares were traded in the counter so far. The stock hit a high of Rs 143.5 and a low of Rs 119.3 so far during the day.
The stock hit a 52-week high of Rs 399 on 01 Nov 2018. The stock hit a 52-week low of Rs 96.65 on 23 Aug 2019.
Sterlite Technologies offers end-to-end data network solutions. The company designs and deploys high-capacity converged fibre and wireless networks. STL's expertise ranges from optical fibre and cables, hyper-scale network design, and deployment and network software.
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