Sterlite Technologies slips 6% as profit falls 38% in December quarter

In Q3FY20, Sterlite underperformed the benchmarks by slipping 21.6 per cent as compared to Nifty's 7.11 per cent gain

Shares of Sterlite Technologies slid 6 per cent to Rs 122 on the BSE on Thursday after the company's profit plunged 38 per cent in December quarter (Q3FY20) to Rs 91 crore, due to lower operational income. The telecom services company had registered a net profit of Rs 146 crore during the same quarter last fiscal.
 

The consolidated revenue declined 9.9 per cent at Rs 1,203 crore during the quarter as against Rs 1,335 crore in the corresponding quarter of 2018-19. The company's exceptional items stood at Rs 51 crore in the third quarter of 2019-20.

Ebitda (earnings before