OREANDA-NEWS. August 05, 2013. Sterlite Industries (India) Limited (“SIIL” or “Sterlite” or “the Company”) announced its unaudited consolidated results for the first quarter (Q1) ended 30 June 2013.

 Q1 FY 2014 Highlights

Mined metal production up 27% and integrated zinc production up 10% at Zinc India

Power generation up 34% at the Jharsuguda 2400 MW Plant

Strong Balance sheet with cash & liquid investments of Rs. 25,890 crore

Merger of Sterlite and Sesa Goa Ltd has received approval of the High Court of Madras on July 25, 2013

Mr. Anil Agarwal, Chairman: “We achieved a strong performance in the first quarter of FY 2014, and delivered production growth at our world-class Zinc, Silver, Power and Aluminium businesses despite global economic volatility and lower metal prices. We remain focused on completing the merger with Sesa Goa, and ramping up production from our growth projects across our world class asset portfolio."

Revenues and EBITDA were lower primarily on account of a temporary closure of the Tuticorin copper smelter, which was partially offset by higher power generation at the Jharsuguda 2,400 MW power plant and higher production at Zinc India. Temporary closure of the Tuticorin smelter negatively impacted EBITDA by Rs. 180 crore.

Attributable PAT and Basic EPS were impacted by lower EBITDA and higher losses at associate. Higher interest costs on borrowings was largely offset by increase in other income.