Sesa Sterlite Q1 profit beats expectations

MUMBAI: Sesa Sterlite reported a better-than-expected consolidated net profit of Rs.1,341.23 crore for the quarter ended June 30, on revenue of Rs. 17055.5 crore.

Analysts on an a average were expecting a profit of Rs. 1308.30 crore, on a revenue of Rs. 17209.6 crore, according to a poll conducted by Bloomberg.

The results are not comparable to the same quarter last year as London-listed Vedanta Resources merged its Indian subsidiaries Sesa Goa, Sterlite Industries, Madras Aluminium Co, Sterlite Energy and Vedanta

Aluminium into one entity called Sesa Sterlite last year.

Shares of the company closed down 1% at Rs. 290.30 a share on Monday on BSE. Markets were closed on Tuesday.