Sterlite Tech rises after decent Q1 results

Sterlite Technologies rose 1.07% to Rs 165.15 at 11:46 IST on BSE after the company's consolidated net profit fell 14.4% to Rs 141.38 crore on a 20.05% decline in net sales to Rs 1,431.99 crore in Q1 July 2019 over Q4 March 2019.

The announcement was made after trading hours yesterday, 18 July 2019.

Meanwhile, S&P BSE Sensex was down 349.45 points or 0.90% at 38,548.01.

On BSE, 2.8 lakh shares were traded in Sterlite Technologies counter, compared to a 2-week average of 1.62 lakh shares. The share price hit an intraday high of Rs 172.05 and an intraday low of Rs 160.15. It hit a 52-week high of Rs 399 on 1 November 2018 and a 52-week low of Rs 143.85 on 24 May 2019.

 

The company's EBITDA grew 32% to Rs 332 crore on a year-on-year (y-o-y) basis. Exports rose 33% y-o-y and it was 36% of the revenues. The company said its open order book stood at Rs 9,853 crore.

Sterlite Technologies is a global company involved in end-to-end data network solutions.

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