BENGALURU: Mining conglomerate Vedanta Ltd’s first-quarter profit slightly missed estimates as falling commodity prices hurt revenue and margins.
The company has seen a muted year in terms of commodity prices, with the benchmark three-month copper on the London Metal Exchange rising only 0.2%, and zinc falling 1.8% this year.
While copper prices are expected to rise further, zinc prices could be weighed down by rising supply this year, a Reuters poll in May showed.
Profit came in at Rs 1,351 crore ($195.98 million) for the three months ended June 30, compared with Rs 1,533 crore a year earlier, the company said here on Friday.
