The company earned Rs4,023.45 crore from its zinc, lead and silver sales together, registering a growth of 61.98% during the quarter, while its revenue from copper sales were up by over 36% at Rs4,815.57 crore
New Delhi: Vedanta Group arm Sterlite Industries today reported 35.05% jump in consolidated net profit at Rs1,925 crore for the quarter ended 31st March, on higher realisations on products like copper, zinc and silver, reports PTI.
The company had posted a net profit of Rs1,425.31 crore during the corresponding quarter of 2009-10.
Sterlite's net sales registered a growth of 39.91% during the January-March quarter last fiscal at Rs10,000.26 crore as compared to Rs7,147.24 crore it had posted during the corresponding quarter of 2009-10, Sterlite said in a filing to Bombay Stock Exchange (BSE).
The company earned Rs4,023.45 crore from its zinc, lead and silver sales together, registering a growth of 61.98% during the quarter, while its revenue from copper sales were up by over 36% at Rs4,815.57 crore, the filing added.
The production of refined zinc and copper during the period rose by 29% each, while lead production jumped by 10%.
The annual net profit of the company surged by 34.69% at Rs5,042.52 crore vis-à-vis a net profit of Rs3,743.74 crore in FY09-10.
Its net sales registered a growth of 23.45% at Rs30,248.06 crore for the fiscal year ended 31st March, as compared to Rs24,500.60 crore of 2009-10.
During the year, Sterlite paid Rs273.53 crore towards termination of purchase and sales agreement, and legal expenses in connection with ASARCO acquisition and Rs56.82 crore under voluntary retirement scheme at a subsidiary engaged in zinc, lead, silver and aluminium operations as exceptional expenses, the filing said.
Meanwhile, Sterile Industries has said that the Supreme Court will hear the matter of closing down the copper smelter facility at Tuticorin in Tamil Nadu on Friday.
The unit closure order was given by the Madras High Court last year on grounds of pollution.
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