Sterlite Technologies receives order from leading telcos operating in MEA region; stock spurts 5 per cent
Sterlite Technologies Ltd (STL) today announced major new deals and extensions to current engagement with leading telcos in the Middle East and Africa region (MEA). The deals worth more than Rs 730 crore take the company's order book to a record high of Rs 11,300 crore.
Reacting to this, the company’s stock today increased by 5.77 per cent and made a 52-week high of Rs 220 per share at 1.02 pm.
Besides, the company reported a net profit of Rs 85.97 crore in Q3FY21, an increase of 71.97 per cent. It had reported a profit of Rs 49.99 crore in Q3FY20. The company reported net sales of Rs 1,314.44 crore for Q3FY21, an increase of 9.29 per cent as against the net sales of Rs 1,202.66 crore for Q3FY20.
Sterlite Technologies Ltd provides digital network solutions. It helps telcos, cloud companies, citizen networks, and large enterprises deliver enhanced experiences to their customers.
According to BSE data, the stock traded at a P/E multiple of 36.91 and a price-to-book ratio of 5.06. The stock has a 52-week high and a 52-week low of Rs 220 and Rs 59.80, respectively.
At 2.27 pm, the stock of the company was trading at Rs 216.90, up by 4.28 per cent on BSE.