Vedanta Q3 profit slips about 4% to Rs2,053 crore, lags estimates
Bengaluru: Vedanta Ltd, the Indian unit of diversified miner Vedanta Resources Plc, reported an about 4% fall in third-quarter profit on Wednesday, missing analysts’ estimates.
Profit came in at Rs2,053 crore ($322.5 million) in the three months ended 31 December, compared with Rs2,133 crore a year earlier, the company said.
Analysts on average expected Vedanta to post a profit of Rs2,410 crore, according to Thomson Reuters data.
Total income for the quarter grew 16.5% to Rs24,934 crore.
The company incurred a one-time charge of Rs158 crore in the quarter related to the arbitration of a historical vendor claim in the aluminium business and acquisition-related cost of AvanStrate Inc, it said. Reuters