Vedanta Reports Higher Profit on Strong Metal Prices
The Mumbai-based miner reported a consolidated net profit of 66.98 billion rupees for the quarter ended March 31. Higher base metal prices drove the growth.
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VEDANTA LTD reported fourth-quarter net profit rose 92% to 66.98 billion rupees ($706.3 million) as base metal prices surged. This result for the period ending March 31 compares to 34.83 billion rupees in the same quarter last year. The profit jump highlights how the India-based conglomerate is capturing gains from a global rally in industrial commodities.
