STERLITE TECH Announces Quarterly Results (1QFY22); Net Profit Up 3302.5%

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STERLITE TECH Announces Quarterly Results (1QFY22); Net Profit Up 3302.5%
Mon, 26 Jul

STERLITE TECH has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

STERLITE TECH Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m8,76214,75013,092-11.2%49.4%
Other incomeRs m9516565-60.3%-31.5%
TurnoverRs m8,85714,91513,158-11.8%48.6%
ExpensesRs m7,54512,18510,773-11.6%42.8%
Gross profitRs m1,2172,5652,481-3.3%103.9%
DepreciationRs m74261269914.1%-5.8%
InterestRs m501534494-7.4%-1.3%
Profit before taxRs m701,5831,354-14.5%1841.9%
TaxRs m41503384-23.8%831.6%
Profit after taxRs m291,080970-10.2%3302.5%
Gross profit margin%13.917.419.0
Effective tax rate%59.131.828.4
Net profit margin%0.37.27.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 49.4% on a year-on-year (YoY) basis. The expenses were up by 42.8% YoY during the same period.
  • The company's operating profit increased by 103.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.0% in 1QFY22 as against 13.9% in 1QFY21.
  • Depreciation charges declined by 5.8% and finance costs declined by 1.3% YoY, respectively.
  • Other income declined by 31.5% YoY during the quarter.
  • Net profit for the quarter increased by 3302.5% YoY. Net profit margins during the quarter increased from 0.3% in 1QFY21 to 7.4% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 11.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.6% QoQ during the same period.
  • The company's operating profit declined by 3.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.0% in 1QFY22 as against 17.4% in 4QFY21.
  • Net profit for the quarter declined by 10.2% QoQ, while net profit margins increased from 7.2% in 4QFY21 to 7.4% in 1QFY22.

To see how STERLITE TECH has performed over the last eight quarters,please visit here.

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STERLITE TECH Share Price Performance

Over the last one year, STERLITE TECH share price has moved up from Rs 135.9 to Rs 299.3, registering a Gain of Rs 163.5 or around 120.3%.

Overall, the S&P BSE SENSEX is up 39.6% over the year.

Current Valuations

At the current price of Rs 299.3, the price to earnings (P/E) ratio of STERLITE TECH stands at 34.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.3 times.

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Related Views on News

STERLITE TECH 2020-21 Annual Report Analysis (Annual Result Update)

Oct 22, 2021 | Updated on Oct 22, 2021

Here's an analysis of the annual report of STERLITE TECH for 2020-21. It includes a full income statement, balance sheet and cash flow analysis of STERLITE TECH. Also includes updates on the valuation of STERLITE TECH.

STERLITE TECH. Announces Quarterly Results (4QFY20); Net Profit Down 53.4% (Quarterly Result Update)

May 14, 2020 | Updated on May 14, 2020

For the quarter ended March 2020, STERLITE TECH. has posted a net profit of Rs 772 m (down 53.4% YoY). Sales on the other hand came in at Rs 12 bn (down 35.2% YoY). Read on for a complete analysis of STERLITE TECH.'s quarterly results.

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