The Financial Express
Sterlite Q3 updates
Edited by : AL CIRCLE
1 min read
Sterlite Industries reported strong Q3FY12 results at the operating level with: (i) a strong copper business, and (ii) a fall in production cost at Balco, Vedanta Aluminium (VAL) and power business. After repeated increase in the cost of production at VAL and Balco, the company reported a decrease in cost of production with: (i) higher utilisation leading to efficiency realisation; (ii) lower alumina cost; and (iii) better coal availability lowering power costs. The company has indicated that VAL’s aluminium cost of production at $2,004/t (from $2,554/t in Q2FY12) and Balco’s cost of production at $1,880/t (from $2,399/t in Q2FY12) is sustainable at current levels. Sterlite Energy has also lowered the cost to R2.6/KWH down from R3/KWH in Q2FY12 on higher generation and better coal availability.
Sterlite’s investments in VAL remain high at R101.7 bn (R5.6 bn equity and R96.1 bn of loans) for its 29.5% stake in the company. As per...
Sterlite’s investments in VAL remain high at R101.7 bn (R5.6 bn equity and R96.1 bn of loans) for its 29.5% stake in the company. As per...
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