Sterlite posts net profit of Rs 1,718 cr in Q4

By Staff
|
Google Oneindia News

Mumbai, May 4 (UNI) Leading copper producer, Sterlite Industries Limited, promoted by the Vedanta group, has posted a net profit of Rs 1,718 crore with a rise of 51 per cent for the quarter ended March 31.

The company produced 3,13,000 tonnes of copper cathode during FY07 as compared to 2,73,000 tonnes in the previous fiscal, said the annual financial report.

In mined zinc metal production, Sterlite registered a growth of seven per cent over the previous fiscal as it touched a margin of 5,05,000 tonnes, the report said.

The company attributed the hike in production to 'debottlenecking' of Tuticorin smelter and an improved production in Rampura Agucha mines.

The full year consolidated profit after tax (PAT) has been increased up to Rs 4,387 crore which means a growth of 169 per cent from the past fiscal.

For the full year, the consolidated revenues have gone up by 86 per cent to Rs 24,387 crore where it stood at Rs 6,252 for the quarter year, the report added.

Construction activities of Chanderiya hydro smelter and associated captive power plant will be commissioned by early 2008, which will boost up the overall growth of the company, company sources said.

UNI

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