Sterlite Industries Q2 net profit down 1% to Rs 998 cr

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Sterlite Industries Q2 net profit down 1% to Rs 998 cr

Vedanta group company Sterlite Industries has posted a net profit of Rs 998 crore in the second quarter of FY12, a fall of 1% as compared to Rs 1,008 crore in the corresponding quarter of last fiscal. This was way below expectations because of fores loss; CNBC-TV18 poll saw net profit at Rs 1,445 crore.

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Vedanta group company Sterlite Industries has posted a net profit of Rs 998 crore in the second quarter of FY12, a fall of 1% as compared to Rs 1,008 crore in the corresponding quarter of last fiscal. This was way below expectations because of fores loss; CNBC-TV18 poll saw net profit at Rs 1,445 crore.

Forex loss for the July-September quarter stood at Rs 466.2 crore and Interest & finance charge was at Rs 356 crore.

Net sales jumped 68% to Rs 10,134 crore from Rs 6,029 crore year-on-year.

During the same period, the company's EBITDA margin came in at 23.9% as against 24.4%.
 
Sterlite Industries' board members approved merger of Sterlite Opportunities & Ventures with company.