Billionaire Anil Agarwal-led mining conglomerate had reported a net profit (after taxes, minority interest and consolidated share in profit/loss of associates but before exceptional items) of Rs 1,639.93 crore during the second quarter of 2014-15.
    
The company, which was earlier known as Sesa Sterlite, saw its net sales drop to Rs 16,349.21 crore during the quarter from Rs 19,448.14 crore in the year-ago period.
    
"Revenues during the quarter at Rs 16,349 crore were 16 percent lower than last year on account of the fall in crude oil and metal prices, partially offset by higher volumes at Zinc India, Oil & Gas and TSPL (Talwandi Sabo Power Ltd) as well as rupee depreciation," the company said in a statement.
    
"Revenues for the quarter were lower by 4 percent QoQ due to softening of crude oil and metal prices during the quarter, partially offset by higher volumes at Zinc India and depreciation of the rupee," it said.
    
Total expenses of the company declined to Rs 14,221.32 crore during the period as against Rs 15,270.56 crore a year ago.
    
The company further said that the gross debt amounted to Rs 79,433 crore as on September 30, 2015. Net debt decreased by Rs 5,335 crore to Rs 27,105 crore as a result of several
initiatives to optimise opex, capex and working capital.
    
Out of the total debt of Rs 79,433 crore, debt in INR currency is Rs 36,197 crore and balance Rs 43,236 crore (54 percent) is in US dollar.

 

Latest News  from Business News Desk