Vedanta’s Quarterly Profit Declines on Weak Prices, Higher Costs
- Parent Vedanta Resources has extended bond repayments
- Company remains committed to deleveraging, value creation
The Vedanta Resources Ltd. booth on the opening day of the Investing in African Mining Indaba in Cape Town.
Photographer: Dwayne Senior/BloombergThis article is for subscribers only.
Billionaire Anil Agarwal’s Indian mining company Vedanta Ltd. reported an 18% drop in quarterly profit on weak prices of key metals such as zinc and aluminum and higher finance costs.
It posted a profit of 20.1 billion rupees ($242 million) in October-December, down from 24.64 billion rupees a year earlier, the company said in a statement Thursday. Revenue rose 3.8% to 349.7 billion rupees.