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Mining group Vedanta Ltd posts fourth-quarter profit helped by higher revenue

Reuters 

- Ltd , the Indian unit of diversified energy group Resources PLC , reported a consolidated quarterly profit, as surged, driven by improved commodity prices and higher zinc volumes.

Consolidated net profit stood at 29.88 billion rupees ($466.09 million) in the fourth quarter ended March 31, compared with a loss of 211.04 billion rupees a year earlier, the metals and mining group said on Monday. (http://bit.ly/2rh8ncs)

Analysts on average expected Vedanta, which recently completed the buyout of Cairn India Ltd , to post a profit of 26.67 billion rupees, according to Thomson data.

Consolidated surged about 35 percent to 246.12 billion rupees.

Shares of the company were up 1.8 percent as of 0941 GMT.

($1 = 64.1075 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Sunil Nair)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Mining group Vedanta Ltd posts fourth-quarter profit helped by higher revenue

REUTERS - 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.

- Ltd , the Indian unit of diversified energy group Resources PLC , reported a consolidated quarterly profit, as surged, driven by improved commodity prices and higher zinc volumes.

Consolidated net profit stood at 29.88 billion rupees ($466.09 million) in the fourth quarter ended March 31, compared with a loss of 211.04 billion rupees a year earlier, the metals and mining group said on Monday. (http://bit.ly/2rh8ncs)

Analysts on average expected Vedanta, which recently completed the buyout of Cairn India Ltd , to post a profit of 26.67 billion rupees, according to Thomson data.

Consolidated surged about 35 percent to 246.12 billion rupees.

Shares of the company were up 1.8 percent as of 0941 GMT.

($1 = 64.1075 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Sunil Nair)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Mining group Vedanta Ltd posts fourth-quarter profit helped by higher revenue

- Ltd , the Indian unit of diversified energy group Resources PLC , reported a consolidated quarterly profit, as surged, driven by improved commodity prices and higher zinc volumes.

Consolidated net profit stood at 29.88 billion rupees ($466.09 million) in the fourth quarter ended March 31, compared with a loss of 211.04 billion rupees a year earlier, the metals and mining group said on Monday. (http://bit.ly/2rh8ncs)

Analysts on average expected Vedanta, which recently completed the buyout of Cairn India Ltd , to post a profit of 26.67 billion rupees, according to Thomson data.

Consolidated surged about 35 percent to 246.12 billion rupees.

Shares of the company were up 1.8 percent as of 0941 GMT.

($1 = 64.1075 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Sunil Nair)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22