1. Indian mining group Vedanta posts Q4 profit helped by higher revenue

Indian mining group Vedanta posts Q4 profit helped by higher revenue

Vedanta Ltd, the Indian unit of diversified energy group Vedanta Resources PLC, reported a consolidated quarterly profit, as revenue surged, driven by improved commodity prices and higher zinc volumes.

By: | Published: May 15, 2017 4:14 PM
Analysts on average expected Vedanta, which recently completed the buyout of Cairn India Ltd, to post a profit of 26.67 billion rupees.

Vedanta Ltd, the Indian unit of diversified energy group Vedanta Resources PLC, reported a consolidated quarterly profit, as revenue surged, driven by improved commodity prices and higher zinc volumes.

Consolidated net profit stood at 29.88 billion rupees ($466.09 million) in the fourth quarter ended March 31, compared with a loss of 211.04 billion rupees a year earlier, the metals and mining group said on Monday.

Analysts on average expected Vedanta, which recently completed the buyout of Cairn India Ltd, to post a profit of 26.67 billion rupees, according to Thomson Reuters data. Consolidated revenue surged about 35 percent to 246.12 billion rupees.

Shares of the company were up 1.8 percent as of 0941 GMT. ($1 = 64.1075 Indian rupees)

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