Sterlite Industries Q1 net profit dips 42% at Rs 673 cr
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Last Updated: Wednesday, July 29, 2009, 18:02
Mumbai: Vedanta group firm Sterlite Industries on Wednesday reported a net profit of Rs 672.66 crore for the first quarter ended June 30, 2009, down 41.56 per cent over the corresponding period a year ago.

Total income declined to Rs 4,957.19 crore during the April-June quarter, from Rs 6,172.55 crore in the corresponding period a year-ago, Sterlite Industries said in a filing to the Bombay Stock Exchange (BSE).

On a standalone basis, Sterlite Industries posted a net profit of Rs 112.70 crore during the June quarter, down 69 per cent over the same period last fiscal.

Total income declined to Rs 2,550.72 crore during the quarter under review, from Rs 3,142.60 crore in the same period previous fiscal.

Earlier this month the company had raised USD 1.5 billion (about Rs 8,050 crore) through issue of securities in the US market at USD 12.15 per share. The company said it has so far utilised Rs 6,031 crore of the said issue proceeds.

Shares of Sterlite closed at Rs 621.15, down 5.53 per cent on the BSE.

Bureau Report

First Published: Wednesday, July 29, 2009, 18:02

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