CHENNAI: Falling oil and gas prices, coupled with slight dip in copper and zinc prices, have resulted in Sesa Sterlite registering a 11 per cent fall in PAT for the quarter ended December 2014.
According to the consolidated financial results released by the company on Thursday, it has registered a PAT of Rs 1,587.50 crore as against Rs 1,780 crore for the same period last year. Its revenue also dipped slightly from Rs 19,414 crore last year to Rs 19,128 crore.
The decline in PAT is due to the fall in the company’s oil and gas business, which has taken a significant hit due to the ongoing fall in oil prices. Revenue was also affected by the decline in the prices of copper, zinc, lead and silver, which have in turn been partially offset by higher production volumes in aluminum and zinc.