Sterlite Technologies Ltd.’s consolidated results for the quarter registered a beat on Reuters estimates. Revenue for the quarter came in 9.7 % higher than the estimated figure of Rs 667.1 crore. Net profit for the quarter came in 65.5 % 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% YoY increase. This was primarily driven by robust organic growth in international business (exports up 74% yoy). Also, the company achieved highest ever fibre volumes. It exited Q3 with optical fibre sales at annualised run rate of over 27 million fkm.
EBITDA for the quarter rose by 25% YoY to Rs 145 crore with a corresponding margin expansion of 35 bps. EBITDA margin for the quarter stood at 19.8%.
The PAT for the quarter came in at Rs. 49 crores, a YoY increase of 63.3%. An 8.1% decline in interest cost aided PAT growth.
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% and ROE at 25%.
Sterlite Technologies Ltd is currently trading at Rs. 110, up by 3.2 points or 3% from its previous closing of Rs. 106.8 on the BSE.
The scrip opened at Rs. 107.6 and has touched a high and low of Rs. 115.25 and Rs. 107.6 respectively. So far 7726247(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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