CORPORATE: Sterlite Q2 net profit falls 28%.

from BUSINESS LINE, October 31, 2009 Mumbai, Oct. 30 - Sterlite Industries, a Vedanta Group company, has registered a 28 per cent drop in net profit at Rs 1,240 crore in the second quarter ended September 30, 2009, against Rs 1,721 crore recorded in the same period last year. Sales revenue was down seven per cent at Rs 6,085 crore (Rs 6,594 crore).

Aluminium output was impacted by the ramp down of production at the high-cost Balco-I smelter to 62,892 tonnes from 90,846 tonnes. The company has maximised returns by selling surplus captive power from Balco-I in the commercial market. Revenues from aluminium business were down 44 per cent to Rs 629 crore (Rs 1,117 crore).

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