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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Sterlite Ind.I. Adr/4 IR1 | NYSE:SLT | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 6.22 | 0.00 | 01:00:00 |
From Jul 2019 to Jul 2024
By Ashutosh Joshi
MUMBAI--Sterlite Industries (India) Ltd. (500900.BY), a unit of Vedanta Resources PLC (VED.LN), Tuesday reported a 75% increase in its net profit for the second fiscal quarter, helped by higher production of silver and lead and a foreign-exchange gain.
For the July-September period, Sterlite reported a consolidated net profit of 17.43 billion rupees ($324.4 million), compared with 9.98 billion rupees a year earlier.
Consolidated sales rose 8.6% to 110.29 billion rupees.
Its consolidated numbers include the results of units Hindustan Zinc Ltd. (500188.BY), Vedanta Aluminium Ltd. and Sterlite Energy Ltd.
At Hindustan Zinc, output of zinc dropped 12% from a year earlier to 163,000 metric tons, while that of lead rose 60% to 27,000 tons.
Sterlite's production of copper cathodes from its Indian and Australian businesses was flat at 87,000 tons.
In its power business, Sterlite posted a 42% increase in sales at 2,474 million kilo-watt hours.
On a stand-alone basis, or excluding the numbers from its units, Sterlite's net profit more than doubled to 7.05 billion rupees.
Sterlite reported a foreign-exchange gain of 2.19 billion rupees in the past quarter on a consolidated basis, while its interest cost dropped about 25% from a year earlier to 1.78 billion rupees.
In February, Vedanta had proposed to merge Sterlite and iron-ore producer Sesa Goa Ltd. to simplify the group's operations in India.
Sterlite said it expects to complete the merger by the end of December.
Write to Ashutosh Joshi at ashutosh.joshi@dowjones.com
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