The Economic Times
Sterlite Ind Q2 net down marginally at Rs 997.78 cr
Edited by : AL CIRCLE
2 min read
Vedanta group firm Sterlite Industries today reported a little over one per cent decline in consolidated net profit at Rs 997.78 crore for the quarter ended September 30, largely due to foreign exchange losses.
The company had reported a net profit of Rs 1,008.03 crore for the corresponding quarter of the last fiscal.
Net sales of the company, however, registered a growth of over 68 per cent at Rs 10,133.84 crore during the quarter under review from Rs 6,028.98 crore of the July-September quarter of FY'11, it said in a filing to the BSE.
During this quarter, the company incurred a net forex loss of Rs 466.22 crore due to depreciation in rupee, which has declined by about 10 per cent in last 2-3 months. The company had reported a net gain of Rs 136.26 crore in the year-ago period.
However, higher realisations from its copper, power, zinc, lead and silver ventures during the quarter, resulted in a growth of over 68 per cent in company's net sales, the filing said.
On a standalone basis, net profit of the company plunged by 35.84 per cent at Rs 257.17 crore during the quarter under review vis-a-vis Rs 400.87 crore in the year-ago period.
The company's realisations from aluminium business went down by 4.52 per cent at Rs 685.53 crore during the quarter, the filing said.
The company had reported a net profit of Rs 1,008.03 crore for the corresponding quarter of the last fiscal.
Net sales of the company, however, registered a growth of over 68 per cent at Rs 10,133.84 crore during the quarter under review from Rs 6,028.98 crore of the July-September quarter of FY'11, it said in a filing to the BSE.
During this quarter, the company incurred a net forex loss of Rs 466.22 crore due to depreciation in rupee, which has declined by about 10 per cent in last 2-3 months. The company had reported a net gain of Rs 136.26 crore in the year-ago period.
However, higher realisations from its copper, power, zinc, lead and silver ventures during the quarter, resulted in a growth of over 68 per cent in company's net sales, the filing said.
On a standalone basis, net profit of the company plunged by 35.84 per cent at Rs 257.17 crore during the quarter under review vis-a-vis Rs 400.87 crore in the year-ago period.
The company's realisations from aluminium business went down by 4.52 per cent at Rs 685.53 crore during the quarter, the filing said.
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