STERLITE INDUSTRIES (INDIA) LIMITED

Article Abstract:

Sterlite Industries (India) Ltd of Mumbai has posted its audited financial results for the year ended June 30, 1998. It has recommended a dividend of 85 percent for 1997-98 against 80 percent paid in 1996-97. The company has begun commercial production at its copper smelter and refinery plant. (khr) --------------------------------------------------------- Audited Financial Results of Sterlite Industries (India) --------------------------------------------------------- Particulars Year ended (Rs in crore) 30.6.98 30.6.97 --------------------------------------------------------- Net sales 1402.11 1071.44 --------------------------------------------------------- Other income 27.32 33.98 --------------------------------------------------------- Total expenditure 1219.78 955.65 --------------------------------------------------------- Interest 15.22 0.55 --------------------------------------------------------- Gross profit 194.43 149.22 --------------------------------------------------------- Depreciation 36.69 21.17 --------------------------------------------------------- Tax 1.07 1.13 --------------------------------------------------------- Net profit 156.67 126.92 --------------------------------------------------------- Equity share capital 44.44 44.42 --------------------------------------------------------- Reserves 1137.82 1021.88 --------------------------------------------------------- Earnings per share (Rs) 35.25 28.57 ---------------------------------------------------------

Comment:

Posts audited financial results for the year ended 6/60/98 and recommends a dividend of 85% for 1997-98

STERLITE NET UP 23%, DIVIDEND AT 85%

Article Abstract:

Sterlite Industries Ltd (SIL) posted a 23 percent increase in its net profit for the year ended June 30, 1998. The board of SIL has recommended a dividend of 85 percent (80 percent in 1996-97). Its sales increased by 31 percent. In 1997-98, SIL earned 61 percent of its revenue from the copper smelting business and 28 percent from sale of jelly filled cables. Sales of jelly filled cables increased by 75 percent to 58 lakh ckm while sale of optical cables increased to 85,281 fibre km. (ag) ------------------------------------------------------------ Financial Performance of Sterlite Industries Ltd (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Sales 1,402 1,071 ------------------------------------------------------------ Profit before depreciation interest and tax 210 150 ------------------------------------------------------------ Net Profit 157 127 ------------------------------------------------------------

Comment:

Posts 23% increase in its net profit for the year ended 6/30/98 and proposes a dividend of 85%

STERLITE SETS RIDER TO BUY INDAL SHARES

Article Abstract:

Sterlite Industries Ltd (SIL) has decided to complete the legal formalities regarding preferential issue before accepting the shares got from the shareholders of Indian Aluminium Company Ltd (Indal). SIL, which has secured a 1.4 percent stake in Indal through its open offer, is yet to settle the payment. Indal's scrip is now trading at Rs75 as compared to Sterlite's offer of Rs221. (ag)

Comment:

Decides to complete legal formalities on preferential issue before accepting shares got from shareholders of Indian Aluminium

Asset sales & divestitures, Acquisitions & mergers, Aluminum Extruded Products, Aluminum Extruded Product Manufacturing, Aluminum extrusions, Indian Aluminium Company Ltd.