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Sterlite Industries (India) Limited Unaudited Consolidated Results For The First Quarter Ended 30 June 2012

Stocks in this article: SLT

Sterlite Industries (India) Limited (“SIIL” or the “Company”) today announced its unaudited consolidated results for the first quarter (“Q1”) ended 30 June 2012.

Q1 Highlights

  • Integrated Lead production up 79% and integrated Silver production up 70% at Zinc India
  • Power sales up 49%
  • EBITDA at `2,337 crore
  • Underlying EPS at `4.2 per share
  • Strong balance sheet with cash and liquid investments of `24,917 crore
  • Shareholder approval received for Sesa Sterlite merger

Financial Highlights


(In ` crore, except as stated)

Particulars   Quarter ended

30 June

  Change   Year ended

31 March

    2012   2011   %   2012
Net Sales/Income from Operations   10,591   9,826   8%   40,967
EBITDA   2,337   2,758   (15%)   10,169
Interest Expense   242   164   47%   852
Foreign Exchange Gain/(Loss)   (217)   -   -   (305)
Profit before Depreciation and Taxes (PBDT)   2,797   3,426   (18%)   12,174
Depreciation   518   420   23%   1,830
Profit before Taxes and Exceptional Items   2,279   3,006   (24%)   10,344
Exceptional Items   -   4   -   473
Taxes   334   614   (46%)   2,111
Profit after Taxes   1,945   2,388   (19%)   7,761
Minority Interest   577   642   (10%)   2,161
Share in Profit/(Loss) of Associate   (167)   (106)   57%   (772)
Attributable PAT after Exceptional Items   1,202   1,640   (27%)   4,828
Basic Earnings per Share (EPS) (`/share)   3.6   4.9       14.4
Underlying Earnings per Share (EPS) (`/share) *   4.2   4.9   (14%)   16.7
Average Exchange Rate (`/$)   54.2   44.7   (21%)   47.9

*Underlying EPS excludes foreign exchange gain/loss and exceptional items


Consolidated Financial Performance

Revenues for Q1 were up 8% at `10,591 crore primarily due to increase in volume of Lead and Silver at Zinc India, Commercial Power and Copper. The drop in LME prices was partially offset by Rupee depreciation compared with the corresponding prior quarter.

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