Sterlite Industries (India), the producer of base metals, has posted a 60 per cent surge in consolidated net profit at Rs 1,101 crore for the quarter ended December 31, as against Rs 687 crore in the corresponding period last year.
Total income of the group was Rs 8,810 crore, a significant rise from the Rs 7,062 crore in the same period last year.
Meanwhile, the company announced that it had completed acquisition of Anglo American’s zinc division (assets in Namibia, Ireland & South Africa). Vedanta Resources Plc, Sterlite’s holding company, and Anglo American Services (UK) had announced the acquisition for $1,338 million, subject to certain adjustments, in December.
The company, through its wholly owned subsidiary, Sterlite Infra, has completed the acquisition of its zinc assets in Namibia for $706.7 million. Acquisition of the remaining zinc assets are in progress.
Hence, the current quarter results and those of the past nine months are not strictly comparable to the corresponding periods of the previous year, the company clarified.