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Sterlite Q4 net up 35% at Rs 1,925 crore

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BS Reporter Mumbai

Sterlite Industries, part of the London-listed Vedanta Resources Plc has reported an year-on-year jump of 35% in its consolidated net profit, at Rs 1,925 crore, for the fourth quarter ended March 31, 2011. Net sales for the given quarter, too, jumped to Rs 10,000.26 crore as against Rs 7,147.24 crore in the corresponding quarter previous to last year.

Earnings before interest, depreciation, tax and ammortisation climbed 44%, at Rs 3,058 crore, as against Rs 2,120 crore for the fourth quarter of FY10. Ebitda margins, too, saw an improvement of 100 basis points, at 31%.

The revenue from the copper business, at Rs 4,815.57 crore, grew by 36% on a year-on-year basis. Profit before Interest and Tax (PBIT) from the copper business was reported at Rs 297.95 crore as against Rs 215.28 crore, year-on-year. Aluminium business saw a degrowth in revenues, however, PBIT surged to Rs 195.27 crore from Rs 163.12 crore on the back of higher London Metal Exchange prices of the white metal. The company reported revenues worth Rs 838.24 crore for the fourth quarter of last fiscal as againt Rs 846.01 crore of Q4 March 2010.

 

Revenues from the Zinc, Lead and Silver business grew by Rs 1,539.67 crore, at Rs 4023.45 crore. PBIT from this vertical, too, shot up by 50.9%, at Rs 2,185.13 crore. This is because of the acquisition of the zinc assets of Anglo American in the last fiscal. Acquisition of two assets of which were completed in February 2011. The company completed the acquisition (Rs 6832.29 crore) of Anglo American Services' zinc assets. Acquisition of two mines, Lisheen Mines and Black Mountain were completed in February  2011.

The revenues from Sterlite's power business went up by Rs 17.37 crore, at Rs 223.09 crore, however, PBIT dropped to just Rs 47.60 crore for the quarter ended March 31, 2011, as against Rs 90.12 crore, last year.

 

 

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First Published: Apr 25 2011 | 5:42 PM IST

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