Sesa Sterlite Ltd has announced the following results for the quarter ended June 30, 2014: The Unaudited Standalone results for the Quarter ended June 30, 2014 The Company has posted a net profit of Rs. 1702.40 million for the quarter ended June 30, 2014 where as the net (loss) was of Rs. (1919.20) million for the quarter ended June 30, 2013. Total Income is Rs. 78043.80 million for the quarter ended June 30, 2014 where as the same was at Rs. 3712.80 million for the quarter ended June 30, 2013. "The Scheme of Amalgamation and Arrangement amongst Sterlite Energy Limited (SEL), Sterlite Industries (India) Limited (Sterlite), Vedanta Aluminium Limited (VAL), Ekaterina Limited (Ekaterina), Madras Aluminium Company Limited (Malco) and the Company (the "Scheme") has been sanctioned by the Honourable High Court of Madras and the High Court of Judicature of Bombay at Goa. The Scheme has been given effect to in the quarter ended September 30, 2013. Consequent to the effectiveness of the Scheme as above, the results for the quarter and the figures in respect of earnings per share, are not comparable with previous corresponding period presented. Subsequent to, the effectiveness of the Scheme, the Commissioner of income tax, Goa and the Ministry of Corporate Affairs have challenged the orders of the High Court of Judicature of Bombay at Goa by way of a Special Leave Petition before the Supreme Court. Further, a creditor and a shareholder have challenged the order of the High Court of Madras. The said petitions are pending admission/hearing. The Unaudited Consolidated results for the Quarter ended June 30, 2014 The Group has posted a net profit after taxes, Minority Interest & Consolidated Share of Profit / (Losses) of Associates of Rs. 13412.30 million for the quarter ended June 30, 2014 where as the same was of Rs. 4143.00 million for the quarter ended June 30, 2013. Total Income is Rs. 184668.80 million for the quarter ended June 30, 2014 where as the same was at Rs. 3842.00 million for the quarter ended June 30, 2013. "The Scheme of Amalgamation and Arrangement amongst Sterlite Energy Limited (SEL), Sterlite Industries (India) Limited (Sterlite), Vedanta Aluminium Limited (VAL), Ekaterina Limited (Ekaterina), Madras Aluminium Company Limited (Malco) and the Company (the "Scheme") has been sanctioned by the Honourable High Court of Madras and the High Court of Judicature of Bombay at Goa. The Scheme has been given effect to in the quarter ended September 30, 2013. Consequent to the effectiveness of the Scheme as above, the results for the quarter and the figures in respect of earnings per share, are not comparable with previous corresponding period presented. Subsequent to, the effectiveness of the Scheme, the Commissioner of income tax, Goa and the Ministry of Corporate Affairs have challenged the orders of the High Court of Judicature of Bombay at Goa by way of a Special Leave Petition before the Supreme Court. Further, a creditor and a shareholder have challenged the order of the High Court of Madras. The said petitions are pending admission/hearing."
Source : BSE - >www.bseindia.com
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