Sterlite Technologies soars to 52-week high on encouraging Q1 numbers
DSIJ Intelligence / 19 Jul 2017
The company's total sales for Q1FY18 came in at Rs 716 crore, which represents a 2.2 per cent sequential increase and 27 per cent YoY increase.
Sterlite Technologies reported its results for the quarter ended June 30, 2017 on Wednesday.
The company's total sales for Q1FY18 came in at Rs 716 crore, which represents a 2.2 per cent sequential increase and 27 per cent YoY increase.
Its operating profit (EBIT) for the quarter amounted to Rs. 115.8 crore and its EBIT margin stood at 16.2 per cent.
The company reported PAT of Rs 68.5 crore, which represents a sequential QoQ decline of 0.4 per cent and a YoY increase of 66.2 per cent.
It has posted highest ever quarterly revenue and highest ever order book of Rs. 3140 crore. Also, it has registered highest ever quarterly export sales of Rs. 320 crore; exports constituting 43 per cent of the revenues.
In line with global demand trends, Sterlite Technologies is set to achieve its 30 million fkm expansion by the middle of this financial year. The company is now embarking on its next leg of capacity expansion to 50 million fkm, to be completed by June 2019
The stock opened at Rs 159.6 and soared to 52-week high of Rs 174.85 on the BSE on the back of excellent numbers.
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