Sterlite Technologies’ consolidated results for the quarter registered a beat on analysts’ estimates. Revenue for the quarter came in 9.7 per cent higher than the estimated figure of Rs 667.1 crore. Net profit for the quarter came in about 65.5 per cent higher than the estimated figure of Rs 29.6 crore.
Sterlite Technologies Ltd consolidated revenue for the quarter came in at Rs 732 crore, registering a 22.8 per cent YoY increase. This was primarily driven by tremendous organic growth in international business (exports up 74 per cent yoy). Also, the company has achieved highest ever fibre volumes. It exited the Q3 results with optical fibre sales at annualized run rate of over 27 million fkm.
The PAT for the quarter came in at Rs 54.42 crores, increasing from Rs 34.46 crores for the same quarter of the previous year.
Company registered highest ever order booking in a quarter of Rs 1,000 crore in the product business. The ROCE of the business stood at 22 per cent and ROE at 25 per cent.
The EPS for the quarter was Rs 1.23 showing a little drop from Rs 1.28 for the quarter ended 30th September 2016.
The consolidated net profit of the company for the quarter ended 31st December 2016 was Rs 49.12 crores.
Sterlite Technologies takes pride in enabling global transformations towards the digital age. With its offerings, Sterlite Technologies has positioned itself as an establisher of positive change in the society. Be it by changing living experiences through its high quality optical communication offerings or developing end-to-end future smart cities, Sterlite Tech ensures that its reason for existence is for the betterment of everyday experiences through futuristic data infrastructure technologies.
Sterlite Technologies share price is at Rs 123.20, up by 6.67 per cent. The scrip recorded a new 52 week high of Rs 124.55. Sterlite Technologies is one of the top 500 stocks recommended by Dynamic Levels.
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