Sterlite Q2 net up 5%

Vedanta group company Sterlite Industries on Tuesday posted a year-on-year growth of net profit of over 5 per cent at Rs1,008 crore for the July-September quarter.

Vedanta group company Sterlite Industries on Tuesday posted a year-on-year growth of net profit of over 5 per cent at Rs1,008 crore for the July-September quarter.

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The firm had a net profit of Rs959 crore during the same period last year. The company's net sales, however, declined by 1.2 per cent to Rs6,029 crore this year from Rs6,104 crore last year as revenue from the copper business slid by 15.2 per cent year- on-year attributed to a bi-annual maintenance shutdown in June-July. Copper accounts for half of the firm's overall revenues.

Sterlite's zinc and lead business witnessed its highest ever production as revenues grew by 21 per cent over last year.