Sterlite Technologies announced a sharp rise in standalone net profit for the quarter ended September 2015. During the quarter, the profit of the company rose 2.33 times to Rs 293.90 million from Rs 126 million in the same quarter last year.

Revenues for the quarter jumped 78.38% to Rs 10,561.50 million, compared with Rs 5,921 million for the prior year period.

EBITDA for the quarter was at Rs 1.36 billion, up 14% on the previous quarter and 67% as compared to Q2 FY15. On a half yearly basis the EBITDA was at Rs 2.56 billion, up 67% as compared to H1 2015.

Well diversified revenue base across telecom and power business with overall 25% of revenues coming from exports.

Pravin Agarwal, vice chairman, Sterlite Technologies, said, ''We had an excellent quarter amidst a not so encouraging macro backdrop. We continue to be positive and optimistic on the developments within the company as well as in the markets we operate. Globally data consumption continues to grow as per our expectations and as the next generation of networks is created, we are investing in building an organization with strong capabilities built on world class manufacturing capabilities. The combination of capacities and capabilities should help to deliver our longer term vision of being the partner of choice of telecom operators as well as power utilities globally.''

Shares of the company declined Rs 5.40 or 5.39%, to trade at Rs 94.70 at the BSE (9.08 a.m., Monday).