The Hindu Business Line : Sterlite Industries Q2 net profit up 64.6 pc

STERLITE Industries (India) Ltd has reported a 64.6 per cent rise in net profit after tax and extraordinary items for the quarter ended September 30, 2005, to Rs 81.1 crore from the previous corresponding Rs 49.27 crore.

The company's gross turnover was up by 67.91 per cent to Rs 1,808.62 crore (Rs 1,077.13 crore for the year ago period). Stand alone, half-year net profit increased by 101 per cent to Rs 120 crore while turnover was higher by 58 per cent at Rs 2,999 crore, an official statement said.

The Q2 consolidated turnover was up by 53 per cent at Rs 2,873 crore with attributable net profit moving up by 67 per cent to Rs 257 crore. For the first-half, the consolidated turnover was up by 44 per cent atRs 4,932 crore with attributable net profit up by 69 per cent to Rs 421 crore.

On the BSE on Thursday, the shares of Sterlite Industries closed lower by 1.03 per cent at Rs 808.25.

A total of 121 pots out of 288 have been commissioned at the 2.5-lakh tpa aluminium expansion undertaken at BALCO, Korba. Three out of four 135-MW power units at the 540-MW CPP were commissioned. The remaining power unit and pots would be commissioned by December 2005 and March 2006.

At consolidated group level, Vedanta Resources plc has reported a 104.4 per cent growth in first half revenue to $1,384.6 million ($677.4 million) and a 110.4 per cent rise in group-EBITDA to $336.5 million ($159.9 million).

According to the statement, this was "driven by better prices and strong volume growth.'' Profit after tax for the period was also up by 162.7 per cent at $185.5 million ($70.6 million).

The company has declared an interim dividend of 5.7 US cents per share.

The statement also informed that the board has approved a $125-million expansion of the Nkana smelter at the Konkole Copper Mines, which would enhance capacity to 3-lakh tpa. This would not only treat greater output from Konkola but also toll-treat concentrate from other Zambian mines.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Thermax Q2 net up 134 pc

Sterlite Industries Q2 net profit up 64.6 pc