• Thursday, March 28, 2024

Business

Vedanta Records 34 Per Cent Profit Decline In Second Quarter

Shares in Vedanta closed 0.3 per cent lower at Rs 210.55 on the India’s National Stock Exchange (NSE), whose benchmark index Nifty settled down 1.9 per cent lower (Photo: REUTERS/Danish Siddiqui).

By: Radhakrishna N S

Indian mining giant, Vedanta said on Wednesday (31) that its profit recorded a decline of 34.3 per cent in the second quarter of the current financial year following low returns from its Zinc business and closure of its copper smelter in southern India. The firm recorded a net profit of £142.32 million in the quarter ended in September, lower, when compared to the profit £216.64m recorded during the same period last year, according to the company filing. Company’s revenue for the quarter grew 5.2 per cent to 2.41 billion. Shares in Vedanta closed 0.3 per cent lower at Rs 210.55…

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