Diversified major Sesa Sterlite on Tuesday reported consolidated net profit of Rs 376 crore for the April-June quarter, on the back of Rs 17,056 crore revenue.
The net profit was lower in the quarter due to an exception outgo of Rs 1,627 crore on account of shift to IFRS based accounting policy and it is just a technical matter, saidSesa Sterlite CEO Tom Albanese .
He further said that in real terms, which is basically before one time exceptional item, the net profit of Sesa Sterlite has more than doubled to Rs 1,341 crore. The company had posted Rs 600 crore as the attributable profit after tax after exceptional items in the same quarter a year ago.