Home / Companies / Results / Vedanta Q3 profit falls 21% to Rs 1,574 cr on smelter shutdown, price drop

Vedanta Q3 profit falls 21% to Rs 1,574 cr on smelter shutdown, price drop

Revenue from operations for the quarter was Rs 23,669 cr compared with Rs 24,361 cr a year ago

premium

FILE PHOTO: A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai | Photo: Reuters

Reuters

Last Updated : Jan 31 2019 | 5:31 PM IST

Indian miner Vedanta Ltd posted on Thursday a 21.1 per cent fall in third-quarter profit, hit by a drop in commodity prices and shutdown of its copper smelter in south India.

Profit came in at Rs 1,574 crore ($221.38 million) for three months ended December 31, compared with Rs 1,994 crore a year earlier, the company said.

ALSO READ: Vedanta got Sterlite unit reopened, well almost. Till a lunch break ended

Analysts on average expected Vedanta to post a profit of Rs 1,431 crore, according to Thomson Reuters Refinitive data.

ALSO READ: Vedanta Resources to invest Rs 60,000 crore in India in 3 yrs: Anil Agarwal

Revenue from operations for the quarter was Rs 23,669 crore compared with Rs 24,361 crore a year ago.