High costs limit Sterlite net rise to 5%

Economic times .com reports that Sterlite (NYSE:SLT, BOM:500900), a subsidiary of Vedanta Industries, announced that Q2 net profits were less substantial because of high operating costs.

The story is quoted as saying:

The profit growth was led by the zinc business which posted higher volumes in the second quarter. During the quarter, the company achieved highest ever zinc and lead mined metal production at 204,836 tonnes, up 6% over the previous year. During the same period, zinc refined metal production was highest ever at 176,239 tonnes, up 25% compared with the corresponding prior quarter. The increase in the production was primarily on account of contribution from a new smelter at Dariba, which contributed 39,000 tonnes in Q2 , said Sterlite

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