IT firm Sterlite Technologies today said its net profit jumped nearly nine-fold to Rs 54.67 crore for the second quarter ended September 30, 2009, over the same period last year.
Net sales declined to Rs 465.83 crore in the latest quarter from Rs 665.56 crore in the same period last fiscal, Sterlite Technologies said in a filing to the Bombay Stock Exchange.
"Despite very difficult market conditions faced in recent months, our results are in line with our forecasts. The trend in both telecom and power sectors continue to point towards good growth in terms of volumes for our core products — optical Fibre and Power Conductors,” Sterlite Technologies Director Pravin Agarwal said.
Shares of Sterlite technologies today closed at Rs 312.95 on the BSE, down 0.90 per cent from its previous close.
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