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Sterlite Technologies spurts after stellar Q3 earnings

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Sterlite Technologies jumped 8.21% to Rs 67.85 at 14:32 IST on BSE after net profit surged 360% to Rs 23 crore on 31.61% growth in net revenues to Rs 895 crore in Q3 December 2014 over Q3 December 2013.

The Q3 result was announced during market hours today, 22 January 2015.

Meanwhile, the S&P BSE Sensex was up 49 points or 0.17% at 28,937.86.

The stock surged on heavy volumes. On BSE, so far 25.48 lakh shares were traded in the counter as against average daily volume of 4.01 lakh shares in the past one quarter.

The stock hit a high of Rs 71.90 and a low of Rs 61.20 so far during the day. The stock had hit a 52-week high of Rs 79.30 on 18 November 2014. The stock had hit a 52-week low of Rs 19.05 on 3 March 2014.

The stock had underperformed the market over the past one month till 21 January 2015, sliding 3.76% compared with the Sensex's 5.54% rise. The scrip had also underperformed the market in past one quarter, declining 10.49% as against Sensex's 8.7% rise.

The small-cap company has equity capital of Rs 78.79 crore. Face value per share is Rs 2.

Sterlite Technologies' earnings before interest, taxation, depreciation, and amortization (EBITDA) surged 90% to Rs 102 crore in Q3 December 2014 over Q3 December 2013.

The company's current order book stood at Rs 4700 crore, an increase of about 80% to its order book size a year back.

Sterlite Technologies develops & delivers products, solutions and infrastructure for telecom & power transmission networks, globally.

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First Published: Thu, January 22 2015. 14:24 IST