Sterlite Technologies Ltd Q2FY17
Consolidated Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||18.5|||
|Net Profit (adjusted)||50.83||38.8|
The EBITDA decreased by 9.8% yoy to Rs 102 cr while EBITDA margins fell by 125 bps yoy to 18.5%. This was due to low cable uptake and delay in NFS execution.
Net profit increased 38.8% yoy to Rs 51 cr primarily due to tax benefits from merger of passive infrastructure business of Speedon Network Ltd (SNL-100% subsidiary of Sterlite Tech)
Sterlite Technologies Ltd is currently trading at Rs. 106.25, down by 0.75 points or 0.7% from its previous closing of Rs. 107 on the BSE.
The scrip opened at Rs. 106 and has touched a high and low of Rs. 109.8 and Rs. 104.7 respectively. So far 1105200(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.