Sesa Sterlite rose 0.08% to Rs 255.75 at 09:34 IST on BSE, with the stock extending Wednesday's gain triggered by reporting good Q2 result.
Meanwhile, the BSE Sensex was up 14.74 points, or 0.05%, to 27,112.91
On BSE, so far 64,285 shares were traded in the counter, compared with an average volume of 4.97 lakh shares in the past one quarter.
The stock saw initial volatility. The stock hit a high of Rs 256.45 and a low of Rs 253.05 so far during the day. The stock hit a 52-week high of Rs 318.40 on 6 June 2014. The stock hit a 52-week low of Rs 169.55 on 14 March 2014.
The large-cap company has an equity capital of Rs 296.47 crore. Face value per share is Re 1.
Sesa Sterlite's consolidated net profit before exceptional items (bei) rose 15% to Rs 1658 crore on 8% rise in net sales/income from operations to Rs 19448 crore in Q2 September 2014 over Q2 September 2013. The result was announced at the fag end of the day's trading session yesterday, 29 October 2014, when the stock had gained 2.12% to settle at Rs 255.55.
Earnings before interest, taxation, depreciation and amortization (EBITDA) fell 8% to Rs 6381 crore in Q2 September 2014 over Q2 September 2013. The company said margins were lower primarily due to Oil & Gas given the weaker crude oil prices. Better price in zinc and aluminium were offset by higher costs due to lower volumes (per mine plan) in Zinc-India and higher coal/input costs in aluminium. The revenue growth of 8% did not translate into EBITDA growth of same proportion due to the lower volumes in higher margin businesses like zinc-India, Oil & Gas marginally offset by higher volumes/revenue in custom refining business. Also, the increase in royalty rates from 1 September 2014 impacted cost at Zinc India, Sesa Sterlite said.
The Sesa Sterlite merger and the Vedanta Group consolidation was completed in August 2013, hence Q2 and H1 FY 2015 performance is compared with the adjusted proforma numbers of respective period, which are more representative of the performance during the period, Sesa Sterlite said in a press release.
Sesa Sterlite is one of the world's largest diversified natural resources companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas. The company produces oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and have a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka. Sesa Sterlite has a strong position in emerging markets with over 80% of its revenues from India, China, East Asia, Africa and the Middle East. Sesa Sterlite is a subsidiary of Vedanta Resources plc, a London-listed company.
Powered by Capital Market - Live News
