BENGALURU: Indian miner Vedanta Ltd on Tuesday posted a better-than-expected fourth-quarter profit, helped by an increase in international demand for zinc.
Rising global prices of metals such as zinc and copper have helped Vedanta fight challenges from mine shutdowns in India. Zinc prices climbed 14% so far this year, while copper is up 4.7%.
Revenue from its international zinc segment surged 22% to ₹1,002 crore ($144.34 million) from ₹822 crore in the year-ago period.
Net profit dived to ₹2,615 crore for the three months ended 31 March, from the ₹4,802 crore posted a year ago due to a one-time gain of ₹2,869 crore it saw as reversal of previous impairments, Vedanta said.
Analysts had expected the miner to book a profit of ₹1,464 crore, according to I/B/E/S data from Refinitiv.
Shares of the miner closed 1.95% lower on Tuesday, before the company posted its earnings.
This story has been published from a wire agency feed without modifications to the text.
