Vedanta Q1 net profit rises 2.1% to Rs 15.33 bn, misses estimates

On average, analysts had expected a net profit of Rs 21.56 bn

Vedanta Ltd on Tuesday reported a 2 per cent rise in first-quarter profit, but missed analysts' estimates, as closure of its copper smelter in South India offset higher volumes at its aluminium and oil & gas businesses.

The Indian unit of diversified mining group Vedanta Resources Plc was forced to close its facility in the southern Indian state of Tamil Nadu in May, following protests by locals over alleged environmental violations which turned violent and culminated in the police opening fire, killing 13 protesters.

Net profit came in at Rs 15.33 billion ($223.53 million) in the three months ended June 30, up