Indian miner Vedanta Ltd said on Wednesday its second-quarter net profit fell 34.3 percent, primarily hurt by lower revenue from its Zinc operations and closure of its smelter in south India.
Net profit attributable came in at 13.43 billion rupees ($181.58 million) in the three months ended September 30, compared with 20.45 billion rupees in the same period a year earlier, the Indian unit of diversified mining group Vedanta Resources said in a filing. https://reut.rs/2Q6uvTK
Nine analysts, on average, had expected the miner to post a profit of 12.68 billion rupees, according to Refinitiv data.
Revenue for the quarter grew 5.2 percent to 227.05 billion rupees.