Sterlite Tech tumbles after CFO Mihir Modi resigns

Sterlite Technologies fell 7.30% to Rs 160 after the companys key managerial personnel tendered resignation.

September 26, 2022 2:07 IST | capital market
The telecom solutions provider announced that Mihir Modi has tendered his resignation from the chief financial officer (CFO) and key managerial personnel position. Modi will be relieved from his duties with effect from the close of business hours of Friday, 14 October 2022, the company informed in an exchange filing. The company said it is in the process of appointing a new chief financial officer and the same will be intimated to the exchanges in due course. Sterlite Technologies is a leading end-to-end solutions provider for global digital networks. On a consolidated basis, the company reported a net loss of Rs 20 crore in Q1 FY23 as against a net profit of Rs 116 crore in Q1 FY22. Revenue from operations rose 20.3% to Rs 1,575 crore in Q1 FY23 from Rs 1,309 crore posted in Q1 FY22. Powered by Capital Market - Live News

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