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Sterlite Tech stocks soar over 10 pct as Q1 net doubles

The scrip after opening the day on a positive note further jumped 10.24 per cent to Rs 332 on BSE.


PTI India
Updated: 20-07-2018 12:39 IST
Sterlite Tech stocks soar over 10 pct as Q1 net doubles

The scrip after opening the day on a positive note further jumped 10.24 per cent to Rs 332 on BSE. (Image Credit: Twitter)

Shares of optical fibre maker Sterlite Tech today surged over 10 percent as the company reported nearly two-fold jump in June quarter results.

The scrip after opening the day on a positive note further jumped 10.24 per cent to Rs 332 on BSE.

At NSE, shares of the company soared 9.99 per cent to Rs 331.90.

In terms of equity volume, 7.23 lakh shares of the company were traded on BSE and over 46 lakh shares changed hands at NSE during the morning trade.

Sterlite Tech yesterday reported nearly two-fold jump in net profit at Rs 121 crore for the June quarter due to strong demand for its products in the domestic market.

The company had registered a net profit of around Rs 61 crore in the same period a year ago.

Total income of the company increased 17.6 percent to Rs 884.14 crore during the reported quarter from Rs 751.19 crore in the year-ago period.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : India

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