Sterlite Tech Q1 Net up 5-fold; shares rise 5%

Sterlite Technologies today reported a robust five-fold increase in its net profit for the quarter ended June 30 to Rs 45.48 crore, over the corresponding period a year ago.     

The company had a net profit of Rs 8.80 crore during the June quarter a year earlier, Sterlite Technologies said in a filing to the Bombay Stock Exchange (BSE).     

Net income of the telecom connectivity products and solutions provider also rose to Rs 436.18 crore during the three-month period ended June 30, 2009 from Rs 404.18 crore of last year.     

Shares of Sterlite Technologies surged 5 per cent from its previous close to hit its upper trading limit of Rs 205.40 on the BSE.