Sterlite Industries Q2 Net dips 28% to Rs 1,240.33 cr
Sterlite Industries, the flagship company of Vedanta Group, on Thursday reported a 27.9 percent decline in consolidated net profit at Rs 1,240.33 crore for the second quarter ended September 30, 2009.
New Delhi: Sterlite Industries, the flagship company of Vedanta Group, on Thursday reported a 27.9 percent decline in consolidated net profit at Rs 1,240.33 crore for the second quarter ended September 30, 2009.
Total income declined to Rs 6,129.06 crore during the July-September quarter of the current fiscal, from Rs 6,810.99 crore in the year ago period, Sterlite said in a filing to the Bombay Stock Exchange.
"The profit during the quarter and half year period was impacted by lower by-product realisations, which was partially offset by higher sales realisation on account of depreciation of Rupee," Sterlite said in a statement.
However, taking into account the minority interest and the share in the profit or loss of associates, the company`s net profit fell 25 percent to Rs 958.85 crore at the end of September quarter.
On standalone basis, Sterlite`s net profit during the second quarter more than halved to Rs 209.51 crore. Total income also fell to Rs 3,838.74 crore during the period, from Rs 3,940.40 crore in the same period a year ago.
The company`s consolidated cash, cash equivalents and liquid investments at the end of September 30 stood at Rs 24,213 crore.
Shares of Sterlite closed at Rs 746.10, down 1.96 percent over previous close on the BSE.