Published on 20/01/2021 1:55:13 PM | Source: Dion Global Solutions Ltd

Sterlite Technologie Q3 net profit up 22.52% at Rs 79.39 cr

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The company reported standalone net profit of Rs 79.39 crore for the quarter ended December 31, 2020 as compared to Rs 64.80 crore in the same period last year, registering a year-on-year growth of 22.52 per cent.

Net revenue of the company rose moderately by 7.36 per cent at Rs 1,193.25 crore in October-December quarter of this fiscal as against Rs 1,111.48 crore in the corresponding period last year. During October-December quarter, operating expenses increased by 14.06 per cent to Rs 995.39 crore from Rs 872.68 crore in year ago period. Other Income dipped by 10.77 per cent at Rs 6.13 crore versus (Dec'19 Rs 6.87 crore).

Operating Profit slipped by 17.14 per cent to Rs 197.86 crore as against Rs 238.80 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 22.81 per cent in December quarter.

Interest declined by 12.78 per cent y-o-y to Rs 45.71 crore, while Taxation increased by 36.06 per cent at Rs 29.13 crore (Dec'19 Rs 21.41 crore).