New Delhi, April 30: Sterlite Industries has reported a 51 per cent jump in net profit at Rs 1,925 crore for the fourth quarter ended March 31, 2013 on the back of higher sales.
The net profit stood at Rs 1,277 crore in the corresponding quarter of 2011-12, the company said in a statement.
Net sales during the quarter grew to Rs 12,609 crore from Rs 10,757 crore, up over 17 per cent.
For the full fiscal ended March 31, 2013, the net profit rose 26 per cent to Rs 6,060 crore and revenues rose 10 per cent to Rs 44,922 crore.
“We achieved a strong operating and financial performance in FY'13. With production growth across our portfolio of world-class assets, we recorded a net profit of Rs 6,060 crore in FY'13 and the board has declared a total interim dividend of Rs 2.30 per share for FY'13,” company Chairman Anil Agarwal said.
At Rs 2.30 per share, the company's total dividend outgo for 2012-13 would go up to Rs 773 crore against Rs 686 crore in the previous fiscal.
Sterlite said the rise in revenues is driven by higher volumes and depreciation of the Indian rupee.
“During Q4 and full year (2012-13), the company delivered higher refined silver, lead, copper, aluminium and power and higher mined metal production at Zinc India,” it said.
As on March 31, 2013, the company has consolidated cash, cash equivalents and liquid investments of Rs 24,847 crore, out of which Rs 12,790 crore was invested in debt mutual funds, Rs 2,151 crore in bonds and Rs 9,906 crore in bank deposits.
