Sterlite net up 35% at Rs 1,925 crore

Sterlite Industries, a part of London-listed Vedanta Resources Plc, on Monday said its fourth-quarter consolidated net profit rose 35 per cent to Rs 1,925 crore from a year ago. Net sales advanced to Rs 10,000 crore from Rs 7,147 crore.

Earnings before interest, depreciation, tax and amortization (Ebitda) jumped 44 per cent to Rs 3,058 crore from Rs 2,120 crore, while Ebitda margin improved 100 basis points to 31 per cent. At Rs 4,815.6 crore, revenue from the copper business grew 36 per cent year-on-year. Profit before interest and tax (PBIT) stood at Rs 298 crore, compared to Rs 215 crore a year earlier.

The company’s aluminium business saw a fall in revenue, but PBIT surged to Rs 195.3 crore from Rs 163.1 crore on higher London Metal Exchange prices of the white metal. Earnings from aluminium stood at Rs 838.2 crore, against Rs 846 a year ago.

Revenue from the zinc, lead and silver business grew by Rs 1,539.7 crore to Rs 4,023.5 crore. PBIT shot up by 50.9 per cent to Rs 2,185.1 crore. This was because of the acquisition of the zinc assets of Anglo American in the last year. Sterlite completed the acquisition of two assets in February: Anglo American Services’ zinc assets (Rs 6,832.3 crore), and Lisheen Mines and Black Mountain.

Earnings from the power business went up by Rs 17.4 crore to Rs 223 crore, but PBIT dropped to Rs 47.6 crore from Rs 90.1 crore.