Sterlite posts 30% growth in consolidated net profit

Net sales of the company grew by 4.33% at Rs 10,692 crore

Vedanta group firm Sterlite Industries has posted over 30% growth in its consolidated net profit at Rs 1,191.41 crore for the quarter ended December 31, 2012, because of improved sales realisations and lower tax outgo.

It had posted a net profit of Rs 913.52 crore in the same quarter previous fiscal.

The total expenditure increased by about 3% at Rs 9,011 crore, while tax outgo declined by 29.64% to Rs 355.53 crore during the quarter. The interest costs also went up by 13% to Rs 226.85 crore.     

The net sales of the company grew by 4.33% at Rs 10,692.40 crore during the quarter against Rs 10,248.77 crore in the same quarter previous year, a according to a company statement.

“Sterlite Industries continues to maintain its strong performance and leadership position. We have substantially improved our

efficiencies, operational performance and metal production across businesses. Zinc India is poised for the next phase of growth as we embark on a major exploration drive using best in class technology and global expertise,” Sterlite Industries Chairman Anil Agarwal said.

Besides, its subsidiary Hindustan Zinc plans to add 1.2 million tonnes per annum new capacity with an investment of Rs 8,000 crore.