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Sterlite’s profit rise
July 27, 2010
Vedanta company’s Sterlite Industries reported a 50% increase in net profit for the June quarter to INR10bn ($214M).
The Indian group cited better price realisation and higher production for the improved result. Net sales were up 29% at INR50bn ($1.08bn).
The company is involved in several metals, including aluminium, copper and zinc.
Aluminium output from its Balco-II smelter was 63kt. Aluminium revenue increased 4% to INR6bn ($128M).
The company singed an agreement with Visakhapatnam Port Authorities to develop a coal berth at the port. The project is expected to be completed in mid-2012.