Vedanta's revenue from operations came in at Rs 23,092 crore.Vedanta Ltd on Tuesday posted a better-than-expected fourth-quarter profit, helped by an increase in international demand for zinc.Rising global prices of metals such as zinc and copper have helped Vedanta fight challenges from mine shutdowns in India.
Zinc prices climbed 14 per cent so far this year, while copper is up 4.7 per cent.Revenue from its international zinc segment surged 22 per cent to Rs 1,002 crore from Rs 822 crore in the year-ago period.Net profit dived to Rs 2,615 crore for the three months ended March 31, from Rs 4,802 crore posted a year ago due to a one-time gain of Rs 2,869 crore it saw as reversal of previous impairments, Vedanta said.Analysts had expected the miner to book a profit of Rs 1,464 crore, according to I/B/E/S data from Refinitiv.Shares of the miner closed 1.95 per cent lower on Tuesday, before the company posted its earnings.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.
Election results will be out on May 23.