Vedanta posts Q4 profit helped by higher revenue from commodities
Analysts on average expected Vedanta, which recently completed the buyout of Cairn India Ltd, to post a profit of Rs 2,667 crore.business Updated: May 15, 2017 17:37 IST
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 Rs 2,988 crore ($466.09 million) in the fourth quarter ended March 31, compared with a loss of Rs 21,104 crore 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 Rs 2,667 crore, according to Thomson Reuters data.
Consolidated revenue surged about 35% to Rs 24,612 crore.
Shares of the company were up 1.8% as of 0941 GMT.
First Published: May 15, 2017 17:36 IST