Sterlite Industries has posted a loss of Rs 39.33 crore for the quarter ended March 31, 2005 compared with a profit of Rs 73.30 crore in the same quarter of previous year. | |
| The company's net sales stood at Rs 1154.62 crore, up 30.65 per cent compared with Rs 883.69 crore in the quarter ended March 2004. |
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| During the year 2004-05, the company has changed the accounting policy of commodity hedging transactions, accounting of export benefit entitlements and accounting of copper contents in concentrate purchases. |
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| These changes in accounting policies have resulted in increase in profit by Rs 3.37 crore for the year and decrease in profit by Rs 5.14 crore for the current quarter. |
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| During the year under review, the company has recorded a growth of 30.11 per cent in its net sales turnover at Rs 3991.65 crore compared with Rs 3067.74 crore in the previous year.After providing for one time extraordinary items of Rs 162 crore , net profit was lower at Rs 106 crore for the year ended March 2005 against Rs 197 crore in the previous year. |
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| Consolidated net profit for the year ended March 2005 was up by 41 per cent to Rs 914.60 crore compared with Rs 650.17 crore. Consolidated net sales was up eight per cent at Rs 7252.47 crore compared with Rs 6714.89 crore in the previous year ended March 2004. |
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| The company's board has announced a dividend of 60 per cent for the period. |
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