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Mumbai, July 28 Sterlite Industries Ltd has reported a 5.2 per cent dip in net profit for the first quarter ended June 30, 2008, to touch Rs 1,595.40 crore from Rs 1,682.90 crore in the corresponding period last year, mostly on account of lower net sales from operations.

The company’s net sales were Rs 5,770 crore, down by about six per cent from Rs 6,139 crore in the year-ago period. Its EPS came down to Rs 16.3 from Rs 19.9.

The company, however, continued to maintain a strong balance sheet with net cash position of Rs 12,244 crore.

During the quarter, the company’s copper cathode production at its Tuticorin smelter was 68,000 tonnes compared with 81,000 tonnes in the corresponding period on account of the planned bi-annual plant maintenance shut down for 26 days during the May-June 2008 period.

Aluminium production was 89,000 tonnes compared with 88,000 tonnes. Similarly, mined zinc metal and lead metal production during the quarter was marginally up at 1.38 lakh tonnes and 20,000 tonnes, respectively.

More Stories on : Metals | Sterlite Industries (India) Ltd

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