Sesa Sterlite reported a 13 per cent sequential (quarter-on-quarter) drop in its net profit at Rs. 1,622 crore, but top line was largely in line with estimates.
Its revenue jumped 7 per cent sequentially to Rs. 20,894 crore on the back of higher other incomes, which came in at Rs. 763 crore against Rs. 389 crore in the previous quarter.
Its ebitda (earnings before interest, tax and depreciation) margin, a gauge of profitability came at 32.2 per cent against 33.8 per cent in the December quarter although analysts have expected an improvement in it at 35.9 per cent.
Except power, all segmental revenues were up sequentially, beating analysts’ estimates.
Sesa Sterlite reduced its gross debt by Rs. 3,400 crore during the quarter.
Shares in Sesa Sterlite closed down 2 per cent at Rs. 189.15 against 0.70 per cent loss in the broader index Nifty.