Sterlite to pay 187.5 per cent dividend; proposes 1:1 bonus and stock split

Sterlite Industries (India) Ltd, a unit of London-based mining major Vedanta Resources, has proposed a dividend of 187.5 per cent, ie, Rs3.75 per equity share of Rs2 each for the financial year 2009-10. The board also proposed to issue bonus shares in the ratio of 1:1 and a split of its Rs2 face value equity share into equity shares of Re1 each. 

The board of directors of the company, which met today, also announced the financial results for the January-March 2910 quarter and the 2009-10 financial year.

As per the unaudited results released today, the company has posted a net profit of Rs462.69 crore during the quarter ended 31 March 2010 against Rs211.56 crore in the quarter ended 31 March 2009.

Total income of the company increased from Rs2,514.8 crore during the quarter ended 31 March 2009 to Rs3,961 crore for the quarter ended 31 March 2010.

For the year ended 31 March 2010, the company has posted a net profit of Rs831.5 core compared with Rs1, 236.43 core during the year ended 31 March 2009. Total Income has increased to Rs14233.54 core during the year ended 31 March 2010 from Rs12, 375.92 crore during the year ended 31 March 2009.

The group has posted a consolidated net profit after tax after exceptional items of Rs1,380.9 crore during the quarter ended 31 March 2010 compared with Rs598.25 crore in the quarter ended 31 March 2009. Total Income has increased to Rs7,776.42 crore during the quarter ended 31 March 2010 from Rs4,800 crore in the quarter ended 31 March 2009.

Audited results of the group on a consolidated basis show a net after-tax profit after exceptional items of Rs3,743.74 crore for the year ended 31 March 2010 compared with Rs3539.99 crore in the year ended 31 March 2009.

Total Income of the group has increased to Rs26,369.68 crore during the year ended 31 March 2010 from Rs23298.48 crore during the year ended 31 March 2009.