Attributable PAT* at Rs. 1,588 crore
Mumbai, India: Sesa Sterlite Limited (“Sesa Sterlite” or the “Company”) today announced its unaudited consolidated results for the third quarter (Q3) ended 31 December 2014.
Financial Highlights
Q3 FY2015 Revenues at Rs. 19,128 crore
EBITDA at Rs. 6,234 crore; EBITDA margin of 43%1
Attributable PAT excluding exceptional items at Rs. 1,588 crore
Gross debt reduced by Rs. 1,470 crore in 9 months
Strong balance sheet with Cash & Cash equivalents of Rs. 47,000 crore Operational
Highlights
Strong mined metal production at Zinc – India
Gross daily average production of 219 kboepd at Oil & Gas; production at Rajasthan normalised following planned maintenance shutdown in Q2
Strong operating performance at Aluminium and newly commissioned pot-lines ramping up
Received approval to start the BALCO 1,200 MW power plant; trial runs to start in Q4
First 660MW unit of 1,980 MW Talwandi Sabo Power Plant commenced commercial operations
Iron Ore mining leases renewed at Goa and Karnataka
Reviewing capex & opex plans across businesses to maximize cash flows in light of recent commodity price declines
Mr. Tom Albanese, Group CEO: “We have delivered sustained performance in the third quarter despite the challenging markets. Strong operating performance of Aluminium and Zinc businesses led to the reduction in gross debt by Rs. 400 crore. We are focused on disciplined capital allocation, coupled with deferred and phased development spending in Zinc, Oil & Gas and other businesses which will help optimize our assets and drive strong cash flow in the near future.”