On a consolidated basis, Sterlite Industries (India)'s attributable profit after tax (PAT) after exceptional item jumped 51% to Rs 1925 crore on 17% increase in net sales to Rs 12609 crore in Q4 March 2013 over Q4 March 2012.
The company's attributable profit after tax (PAT) after exceptional item rose 26% to Rs 6,060 crore on 10% increase in net sales to Rs 44922 crore in the year ended March 2013 over the year ended March 2012.
Mr. Anil Agarwal, Chairman: "We achieved a strong operating and financial performance in FY2013. With production growth across our portfolio of world class assets, we recorded a net profit of Rs 6,060 crore in FY2013 and the Board has declared total interim dividend of Rs. 2.30 per share for FY2013."
Revenues for Q4 March 2013 (Q4) and the year ended March 2013 (FY2013) were Rs 12609 crore and Rs 44922 crore, an increase of 17% and 10% respectively. The increase in revenue was driven by higher volumes and depreciation of the Indian Rupee, which more than offset lower metal prices. During Q4 and full year, the company delivered higher refined silver, lead, Copper, Aluminium and Power and higher mined metal production at Zinc India, Sterlite Industries (India) said in a statement.
The company added that Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) in FY2013 was up 2% at Rs 10574 crore and in Q4 was up 23% higher at Rs 3323 crore, on account of higher production, higher metal premiums and lower costs which more than offset lower metal prices during the year. Interest cost in Q4 and FY2013 was higher as compared to the corresponding prior periods due to capitalisation of new plants.
Depreciation in Q4 was lower due to one-off depreciation reversal at Zinc India. Depreciation cost for FY2013 was higher on account of capitalization of new plants at Zinc India and Sterlite Energy (SEL).
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During the year there was gain on account of foreign exchange movement as compared to the previous year, largely on account of foreign exchange hedge contract towards investments made in overseas subsidiaries, as designated contracts, resulting into transfer of foreign exchange movement to reserves, in accordance with AS 30.
During Q4 and FY2013, attributable PAT and basic earning per share (EPS) were significantly higher by 51% and 26% respectively, over the corresponding prior periods on account of higher EBITDA, higher investment income, lower foreign exchange losses and lower tax rate.
The board has declared a second interim dividend of Rs 1.20 per share. The total interim dividend for FY2013 is Rs 2.30 per share and no final dividend is proposed to be declared. The total dividend outgo will be Rs 773 crore as against Rs. 686 crore during the previous year, Sterlite Industries (India) said in a statement.
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Bharti Infratel, Chambal Fertilisers & Chemicals, Dabur India, EID Parry (India), Godrej Consumer Products, IL&FS Investment Managers, Marico, Petronet LNG, Shoppers Stop, Taj GVK Hotels & Resorts and TVS Motor Company, among others, will declare their January-March 2013 quarter results today, 30 April 2013.
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Net profit of Shree Cement rose 139.84% to Rs 274.09 crore in the quarter ended March 2013 as against Rs 114.28 crore during the previous quarter ended March 2012. Sales rose 5.86% to Rs 1456.84 crore in the quarter ended March 2013 as against Rs 1376.15 crore during the previous quarter ended March 2012.
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Gayatri Projects said that its wholly-owned subsidiary, Sai Maatarini Tollways, has tied-up the total debt required for the project. And as a part of the sanction terms, the board has approved to issue corporate guarantee to the extent of Rs 1397.35 crore in favour of security trustee, for the consortium lenders.
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