STERLITE INDUSTRIES =RESULTS = FOR Q3 FY 2011 = QTR ENDING DECEMBER 2010 = CONSOLIDATED NPT UP BY 50.56%

Sterlite Industries ( India ) Limited

NSE Symbol STER

STERLITE INDUSTRIES  has reported very good performance in the 3^rd quarter ending dec,2010.

Net Sales has gone up to Rs.8294 Cr – an increase of 37.57% over Q2 FY11 and 24.22% over Q3 FY 2010.

Profit from operations has gone up to Rs.1730 Cr – an increase of 31.39% over Q2 FY 11; and 8.53% over Q3 FY 2010.

Consolidated Net Profit is Rs.1101 cr – an increase of 9.23% over Q2 FY11 and  a good 50.56% over Q3 FY2010. This is helped well by an increase of nearly Rs.100  cr in Other Income and a huge decrease in exceptional items (expenditure).

Paid-up Equity has gone up to Rs.336.12 cr – compared to Rs.168.08 cr in Q3 FY 10 - Due to a BONUS ISSUE in 1 :1 RATIO earlier.

Basic EPS is Rs.3.28 on the enhanced equity – compared to Rs.8 in Q3 FY10 on lower equity.

The company has announced that it had completed acquisition of Anglo American’s zinc division with assets in Namibia, Ireland & South Africa.

Vedanta Resources Plc, Sterlite’s holding company, and Anglo American Services (UK) had announced the acquisition for $1,338 million, subject to certain adjustments, in December.

The company, through its wholly owned subsidiary, Sterlite Infra, has completed the acquisition of its zinc assets in Namibia for $706.7 million. Acquisition of the remaining zinc assets are in progress.

Hence, the current quarter results and those of the past nine months are not strictly comparable to the corresponding periods of the previous year, the company clarified.

The company's SLP in Supreme Court regarding Tuticorin plant etc - ARE AWAITING FINAL DISPOSAL.

CONSOLDIDATED RESULTS TABLE :

STERLITE (CONSOL)	Q3 FY 11	Q2 FY 11	Q3 FY 10
Net Sales	829432	602898	667696
Net Sales (Cr)+dif%	8294	37.57	24.22
Other Oprtng Income	3813	5537	6978
Increase/Decr. in SIT/WIP	-13154	-39346	-10421
Raw Materials	510237	372289	395193
traded goods	-	1548	37
Employees Cost	25794	22252	23976
Depreciation	24877	21234	17821
Other Expenditure	112499	98800	88673
Total Expenditure	660253	476777	515279
Profit from Operations	172992	131658	159395
Dif %2	1730	31.39	8.53
Other Income	47760	57785	37153
Profit B I & EI	220752	189443	196548
Interest	7054	-32	9289
Profit A I BB EI	213698	189475	187259
Exceptional items	410	2116	27353
Profit before tax	213288	187359	159906
Tax Expense	42142	45552	29034
Net Profit after tax	171146	141807	130872
Net Profit	171146	141807	130872
Minority Interest	50811	38533	48030
Shares of Associates	10229	2471	9709
Consolidated Net Profit	110106	100803	73133
dif %3	1101	9.23	50.56
Face Value (in Rs.)	1	1	2
Paid-up Equity	33612	33612	16808
Basic EPS B EI (in Rs.)	3.28	3	8.7
Diluted EPS B EI (in Rs.)	3.28	2.69	8.7
Basic EPS A EI(in Rs.)	3.28	3	8.7
Diluted EPS A EI(in Rs.)	3.28	2.69	8.7
Public Shareholding (%)	34.16	33.81	32.22

ANNOUNCEMENTS

TO THE EXCHANGE

25-01-2011    Sterlite Industries ( India ) Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 829432 lacs for quarter ending on 31-DEC-2010 against Rs. 667696 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 110106 lacs for the quarter ending on 31-DEC-2010 against Rs. 73133 lacs for the quarter ending on 31-DEC-2009.

25-01-2011    Sterlite Industries ( India ) Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 437841 lacs for quarter ending on 31-DEC-2010 against Rs. 361199 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 31638 lacs for the quarter ending on 31-DEC-2010 against Rs. 4659 lacs for the quarter ending on 31-DEC-2009.

14-12-2010    Sterlite Industries ( India ) Limited has informed the Exchange vide its letter dated December 13, 2010 regarding "Update on Special Leave Petition in Supreme Court on Tuticorin Smelter"

04-12-2010    Sterlite Industries ( India ) Limited has informed the Exchange regarding a press release dated December 03, 2010, titled "Sterlite Industries (India) Limited Announces Completion of Acquisition of Skorpion Zinc Mine In Namibia".

26-10-2010    Sterlite Industries ( India ) Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 602898 lacs for quarter ending on 30-SEP-2010 against Rs. 608546 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 100803 lacs for the quarter ending on 30-SEP-2010 against Rs. 95885 lacs for the quarter ending on 30-SEP-2009. -

26-10-2010    Sterlite Industries ( India ) Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 290242 lacs for quarter ending on 30-SEP-2010 against Rs. 361641 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 40087 lacs for the quarter ending on 30-SEP-2010 against Rs. 20951 lacs for the quarter ending on 30-SEP-2009.

18-10-2010    Sterlite Industries ( India ) Limited has informed the Exchange vide its letter dated October 18, 2010 regarding "Update on Special Leave Petition in Supreme Court on Tuticorin Smelter"   

01-10-2010    Sterlite Industries ( India ) Limited has informed the Exchange vide its letter dated October 01, 2010 that: " The Madras High Court passed an order on September 28, 2010, ordering the closure of the Tuticorin Smelter. Subsequently, the Company had filed a Special Leave Petition in the Honourable Supreme Court of India on September 29, 2010 against the Madras High Court order. The same was heard today by the Honourable Supreme Court and the Honourable Supreme Court granted a Stay over the operation of the subject Madras High Court order dated September 28, 2010, until October 18, 2010, when the matter will be further heard."

29-09-2010    Sterlite Industries ( India ) Limited has informed the Exchange regarding a Press Release dated September 29, 2010 titled "Update on Madras High Court Decision on Tuticorin Smelter".  

27-08-2010    Sterlite Industries ( India ) Limited has informed the Exchange regarding a Press Release Vide its letter dated August 27, 2010 titled "Update on Niyamgiri Bauxite Mining"

 *  *  *  E  N  D   *  *  *