Financial Daily from THE HINDU group of publications
Wednesday, Jan 30, 2002
Financial Daily from THE HINDU group of publications Wednesday, Jan 30, 2002 |
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Corporate Results
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Broadband Sterlite net down 3.5 pc at Rs 36.31 cr Our Bureau
MUMBAI, Jan. 29 STERLITE Industries (India) Ltd has reported a 3.5-per cent decline in its net profit at Rs 36.31 crore for the second quarter ending December 31, 2001 from Rs 37.63 crore in the year-ago period. Sales moved up to Rs 842.62 crore (Rs 736.67 crore). Domestic sales accounted for Rs 760.89 crore, while exports accounted for Rs 81.73 crore. Copper prices during the quarter were sluggish and are expected to stabilise at the current levels of $1500-1600 per tonne on demand from China and other Asian countries, the company said. Domestic demand for copper grew sedately. ''Copper telephone cables continue to be the main demand driver and consumption growth will critically hinge upon increased copper cable deployment by Bharat Sanchar Nigam Ltd,'' the company said. In the first half period, net profit was down at Rs 60.28 crore (Rs 73.12 crore). Sales were Rs 1561.23 crore (Rs 1500.29 crore).
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