Sterlite net slumps 66% to Rs 10.3 cr

BS 200 SCORECARD

Sterlite Industries' net profit declined 66.2 per cent at Rs 10.3 crore for the quarter ended June 30, 2004, compared with Rs 30.5 crore in the corresponding period of the previous year.

However, net sales rose 28.1 per cent at Rs 761.8 crore (Rs 594.5 crore). Interest costs came down 19.8 per cent at Rs 25.5 crore (Rs 31.8 crore).

In a statement to the BSE, the company said production and sales during the quarter were impacted due to 20 days shut down at the company copper plant after a campaign life of 24 months.

The company further said that during the quarter ended June 30, 2004, it has received advance against rights issue of equity share aggregating to Rs 1203.62 crore.