Indian metals-to-oil conglomerate Vedanta Ltd reported a 68 per cent slump in fourth-quarter profit on Friday after revenue fell amid declining prices of metals.
Vedanta’s consolidated net profit stood at 18.81 billion rupees ($230 million) for the quarter ended March 31, compared with 57.99 billion rupees a year earlier, the billionaire Anil Agarwal-led company said in an exchange filing.
Analysts had, on average, expected a profit of 28.91 billion rupees, according to Refinitiv IBES data.
The metals and mining major’s quarterly revenue fell 5.4 per cent to 372.25 billion rupees. The share of revenue from the mainstay aluminium business reduced to 33 per cent from 39 per cent.
