Sterlite Industries (India) Limited Unaudited Consolidated Results For The Second Quarter And Half Year Ended 30 September 2011

BY Business Wire | 10/24/11 - 12:26 PM EDT

Stock quotes in this article: SLT

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Sterlite Industries (India) Limited (“SIIL” or the “Company”) today announced its unaudited consolidated results for the Second Quarter (“Q2”) and Half Year (“H1”) ended 30 September 2011.

Highlights of the quarter

Operational Performance

Refined Zinc-Lead metal production up 5% at 201,821 tonnes
Refined Silver production up 12% at 49,274 kg
Commissioned the 100 ktpa Dariba Lead smelter, taking the Zinc - India capacity to 1.064 mtpa
Stable operations at Zinc International

Financial performance

PBDT up 29% at Rs. 2,693 crore, Rs. 530 crore contributed by Zinc International
Strong balance sheet with cash and liquid investments of Rs. 22,691 crore
EPS of Rs. 3 per share
Interim Dividend of Rs 1 per share.

Financial Highlights

(In Rs. crore, except as stated)

Particulars	Quarter ended 30 September		Change	Half Year Ended 30 September		Change
	2011	2010	%	2011	2010	%
Net Sales/Income from operations	10,134	6,029	68.1	19,958	11,953	67.0
Profit before interest, depreciation & taxes	3,049	2,086	46.1	6,645	4,260	55.9
Interest	356			530	127
Profit before depreciation and taxes (PBDT)	2,693	2,086	29.1	6,115	4,134	47.9
Depreciation	445	212		865	429
Taxes	505	456		1,119	824
Profit After Taxes	1,744	1,418	23.0	4,131	2,881	43.4
Minority Interest	503	385		1,145	761
Share in Profit/(Loss) of Associate	(243)	(25)		(349)	(103)
Attributable PAT after exceptional item	998	1,008	(1.0)	2,637	2,016	30.8
Earnings per Share (EPS) (Rs. /share)*	3.0	3.0		7.8	6.0

*Not Annualised

Zinc India Business

Particulars	Quarter ended 30 September		Change	Half Year Ended 30 September		Change
	2011	2010	%	2011	2010	%
Production ( in Kt, except for silver)
Mined Metal	210	205	2.4	398	387	2.9
Refined Metal – Zinc	185	176	4.9	378	341	10.8
Refined Metal – Lead* ⁽¹⁾	17	16	5.2	33	31	5.4
Silver (in 000’s Kgs) ⁽²⁾	49	44	12.1	96	87	10.1

Financials
Revenue (Rs. Cr)	2,560	2,146	19.3	5,344	4,073	31.2
PBDT (Rs. Cr)	1,775	1,265	40.2	3,673	2,418	51.9
PAT (Rs. Cr)	1,330	941	41.3	2,809	1,826	53.8
CoP with Royalty ($/MT)	1,036	976	6.1	1,050	997	5.3
Zinc LME ($/MT)	2,224	2,013	10.5	2,236	2,015	11.0
Lead LME ($/MT)	2,459	2,032	21.0	2,503	1,989	25.8

(1) Includes captive consumption of 1,348 tonnes and 2,739 tonnes in Q2 FY2012 and H1 FY2012, as compared with 1,646 tonnes and 2,812 tonnes in corresponding prior periods, respectively.

(2) Includes captive consumption of 7,193 kg and 14,389 kg in Q2 FY2012 and H1 FY2012, as compared with 8,612 kg and 14,745 kg in corresponding prior periods, respectively.

Mined metal production in Q2 was 209,676 tonnes, up 2% as compared with the corresponding prior quarter.

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