Vedanta Q3 Profit Rises

(RTTNews) - Vedanta Limited reported that its third-quarter attributable profit after tax rose to INR 3,299 crores from INR 2,347 crores in the previous year. On a per share basis, net income was INR 8.91 up from INR 6.34 in the prior year.

EBITDA for the third-quarter was higher by 18% year-over-year, mainly on account of higher commodity prices, rupee depreciation and higher volumes at Zinc India and Iron Ore business, partially offset by one offs pertaining to past exploration cost recovery at Oil and Gas business in the third-quarter of fiscal year 2020.

Revenues for the third-quarter were INR 22,498 crores, up 6% from last year, mainly on account of higher commodity prices, rupee depreciation and higher volumes at Zinc India and Iron Ore business, partially offset by lower volumes at Oil and Gas business, lower power sales in TSPL.