Vedanta’s Q1 net profit up 2% to Rs 1,533 cr

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Mumbai, July 31 (IANS) Diversified natural resources company Vedanta on Tuesday reported a consolidated net profit of Rs 1,533 crore, up 2 per cent from the corresponding quarter last fiscal.

It had posted a net profit of Rs 1,501 crore in the April-June quarter last year, the company said in a BSE filing.

The company said its net profit is after after taxes, non-controlling interests and share in profit of jointly controlled entities and associates but before exceptional items.

The consolidated net income from operations rose 15 per cent to Rs 22,206 crore in the first quarter of the current fiscal as compared to Rs 19,342 crore in the year-ago quarter.

The revenue was up 15 per cent on account of higher volumes at aluminium, oil and gas business, higher availability at Talwandi Sabo Power Limited (TSPL), currency depreciation and higher commodity prices partially offset by lower volumes at Zinc India, Zinc International, iron ore business and closure of Tuticorin smelter, the company said.

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“We delivered strong EBITDA and steady margins this quarter driven by record volumes in aluminium, higher production in oil and gas, as well as, supportive commodity prices,” Vedanta Chief Executive Officer Kuldip Kaura was quoted as saying in a statement.

–IANS

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