Profit

Vedanta Reports Rs 1,533 Crore Profit In Q1, Misses Analysts' Estimates

Vedanta's revenue from operations for the quarter grew 14.8 per cent to Rs 22,206 crore.

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Vedanta Reports Rs 1,533 Crore Profit In Q1, Misses Analysts' Estimates

Vedanta Q1: Analysts, on average, had expected a net profit of Rs 2,156 crore.

Vedanta Ltd, the Indian unit of diversified mining group Vedanta Resources Plc, missed analysts estimate for first-quarter profit, as closure of its copper smelter in South India offset higher volumes at its aluminium and oil & gas businesses. Net profit rose 2.1 per cent to Rs 1,533 crore ($223.53 million) in the three months ended June 30 from Rs 1,501 crore a year earlier, the company said in a statement on Tuesday. Analysts, on average, had expected a net profit of Rs 2,156 crore, according to Thomson Reuters.

Revenue from operations for the quarter grew 14.8 per cent to Rs 22,206 crore.

The company was forced to close its facility in the southern Indian state of Tamil Nadu in May, following protests by locals over alleged environmental violations that turned violent and culminated in the police opening fire, killing 13 protesters.

© Thomson Reuters 2018

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