India's Sterlite Technologies down after reporting quarterly loss

Sterlite Technologies

08/05/2024 09:49

** Shares of Sterlite Technologies  STTE.NS  down as much as
4.8% at 125.25 rupees, last down 4.2% 
    ** Network solutions firm reported a consolidated net loss
of 820 mln rupees ($9.8 mln) for the March-qtr, compared to a
profit of 650 mln rupees a year earlier
    ** Revenue from ops fell 39% to 11.40 bln rupees
    ** More than 5.6 mln shares change hands as of 2:18 p.m.
IST, 0.8x 30-day average
    ** STTE on track for a fourth consecutive session of losses,
if trend holds
    ** Including session's move, stock is down 11.8% YTD 


($1 = 83.5009 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))