Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Vedanta Q3 profit dips, Zambia disappoints
BackBack

Vedanta Q3 profit dips, Zambia disappoints

Vedanta Q3 profit dips, Zambia disappoints

BloombergPremium

Bloomberg

London: Miner Vedanta Resources posted a 5% dip in core profit its December quarter, hit by weaker performances at its aluminium and Zambian copper operations.

The India-focused miner said earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $848.4 million for the third quarter, including $131 million from its majority stake in Cairn India, acquired last year.

Bloomberg

The Zambian copper operations posted core earnings of $67.7 million, compared to $134.4 million a year ago.

Aluminium was also badly hit by lower market prices and by the depreciation of the Indian rupee, which forced mark-to-market losses on foreign currency loans. Core profit sank to $3.6 million for the division from $76.3 million a year earlier.

Over the nine months to the end of December, the group’s core profit rose 14 percent to $2.6 billion.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 31 Jan 2012, 01:32 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie