By Prasenjit Bhattacharya
NEW DELHI--Sterlite Industries Ltd (500900.BY) Thursday posted a
27% drop in its net profit for the fiscal first quarter, as it
booked a mark-to-market loss on foreign-currency loans and incurred
higher interest cost.
Net profit for the April-June quarter fell to 12.02 billion
rupees ($214.6 million) from 16.40 billion rupees.
Sales for the flagship company of London-based diversified miner
Vedanta Resources PLC (VED.LN) rose 8% to 105.91 billion rupees
from 98.26 billion rupees, as it sold more copper, lead, silver and
electricity.
It posted a forex loss of 2.17 billion rupees in the past
quarter, while interest cost rose 47% to 2.42 billion rupees.
Write to Prasenjit Bhattacharya at
prasenjit.bhattacharya@dowjones.com
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