Sterlite Industries’ consolidated Q1 rises 63%

Sterlite Industries (India) has reported results for its first quarter ended June 30, 2011.

The company’s net profit after extraordinary items for the quarter has declined by 18.26% at Rs 342.86 crore as compared to Rs 419.43 crore for the same quarter last year. Its total income has increased by 22.03% to Rs 4562.22 crore for the quarter under review from Rs 3738.64 crore for the corresponding quarter of the previous year.

On consolidated basis, the Group’s net profit after tax attributable to consolidated Group after exceptional items has registered a growth of 62.60% at Rs 1639.73 crore for the corresponding quarter previous year as compared to Rs 1008.43 crore for the quarter ended June 30, 2010. Its total revenue has jumped by 61% to Rs 10702.34 crore for the quarter from Rs 6647.09 crore for the similar quarter of the previous year.

Consequent to acquisition of zinc business at Namibia, South Africa and Ireland in the second half of the FY 2010-11, the results of the current quarter are not strictly comparable with corresponding previous quarter.