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Sterlite Technologies on Friday reported a sharp dip of 76.8 per cent at Rs 17.10 crore in its standalone net profit for the third quarter ended December 31.
The provider of transmission solutions for the power and telecom industries, had posted a net profit of Rs 73.72 crore in the October-December quarter last fiscal, Sterlite Technologies said in a filing to the Bombay Stock Exchange.
The net revenues of the company also declined to Rs 579.11 crore in the December quarter compared with Rs 867.27 crore in the year-ago period.
Commenting on the third quarter numbers, Sterlite Technologies Wholetime Director Mr Pravin Agarwal said, “We are working actively towards ensuring a return to our normal performance, with expanded capacities and good order book for the fiscal year 2012 and beyond.”
Shares of the company closed at Rs 55.30 down 10.30 per cent after hitting a 52-week low of Rs 54.15 a piece during intra-day on BSE.
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