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Sterlite Tech shares zoom nearly 10 pc, m-cap rises by Rs 1,169 cr on smart Q1 show

Shares of optical fibre maker Sterlite Tech ended with a sharp gain of nearly 10 per cent today after the company reported nearly two-fold jump in June quarter results.


PTI India
Updated: 20-07-2018 15:54 IST

Shares of optical fibre maker Sterlite Tech ended with a sharp gain of nearly 10 per cent today after the company reported nearly two-fold jump in June quarter results.

The stock soared 9.66 per cent to close at Rs 330.25 on BSE. During the day, it zoomed 10.70 per cent to Rs 333.40.

On the NSE, shares of the company jumped 9.41 per cent to settle at Rs 330.15.

The company's market valuation surged Rs 1,168.95 crore to Rs 13,258.95 crore.

In terms of equity volume, 10.42 lakh shares of the company were traded on the BSE and over 66 lakh shares changed hands on the NSE during the day.

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 per cent 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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