Sterlite Industries plans to increase smelter capacity to 8 lakh TPA

Sterlite Industries is planning to increase its smelter capacity to 8 lakh tonne per annum (TPA) from 4 lakh TPA. Following this, the company’s contribution to gross state domestic product (GSDP) of Tamil Nadu would go from current 3.3 per cent to 4.5 per cent. In this regard, the company will invest around Rs 2,500 crore.

Currently, the company has completed the first unit of its 160 MW power plant, of 80 MW and plans to start the second unit of 80 MW in next one month. Further, the company’s employees’ count would also go up to 35,500.

On consolidated basis, the company reported 30.42% rise in its net profit at Rs 1191.41 crore for the quarter ended December 31, 2012 as compared to Rs 913.52 crore for the same quarter in the previous year. Total income of the company increased by 4.34% at Rs 11596.48 crore for quarter under review as compared to Rs 11113.27 crore for the quarter ended December 31, 2011.