Sterlite Tech surges 10 per cent on remarkable Q1FY19 numbers
Sterlite Technologies, an end-to-end global digital network company, posted its financial results for the first quarter ended June 30, 2018. The company’s standalone revenue for the quarter came in at Rs. 876.89 crore, registering 17.8 per cent yoy increase.
EBITDA for the quarter rose by 55.9 per cent yoy to Rs. 244.89 crore with a corresponding margin expansion of 683 bps. EBITDA margin for the quarter stood at 27.9 per cent. The PAT for the quarter came in at Rs. 128.48 crore, yoy increase of 89.4 per cent.
Sterlite Tech's order book continued to grow and were at an all-time high of Rs. 6,034 crore. The company has also given strategic guidance for net income growth of US$100 million in FY20.
On Friday, the stock opened at Rs. 302.15 per share and jumped nearly 10 per cent and made an intraday high of Rs. 332 per share, on the BSE.