Sterlite Industries updates on Copper Business
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Saturday, 04 Aug 2012
Sterlite Industries India Limited announced the production of copper business.
| Particulars | Q1'12 | Q1'11 | Change |
| Production (Kt) | N/A | N/A | N/A |
| Mined Metal Content-Australia | 7 | 6 | 13% |
| Cathodes- India | 88 | 74 | 19% |
| Financials | Q1'12 | Q1'11 | Change |
| Revenue (INR Cr) | 5,301 | 4,631 | 14% |
| EBITDA (INR Cr) | 265 | 331 | -20% |
| Foreign Exchange gain/(loss) (INR Cr) | -258 | -2 | N/A |
| PAT (INR Cr) | 96 | 393 | -86% |
| Net CoP - cathode (USc/lb) | 5.4 | -2.9 | N/A |
| Tc/Rc (C/lb) | 12.4 | 13.9 | -11% |
| LME(USD/MT) | 7,869 | 9,125 | -14% |
Mined metal production at the Australian mine was up by 13% at 7,000 tonnes. Copper cathode production at the Tuticorin smelter was 88,000 tonnes.
In Q1, net cost of production was higher at 5.4 c per lb compared with 2.9 c per lb in the corresponding prior period primarily on account of lower realization of by products.
EBITDA for Q1 was lower at INR 265 crore primarily due to higher net cost of production and lower Tc and Rc, partially offset by higher volume. The first 80 MW unit of the captive power plant at Tuticorin is expected to be synchronized in the current quarter.
Source - Sterlite Industries
(www.steelguru.com)
