May 7, 2019 / 10:56 AM / 2 months ago

India's Vedanta Q4 profit down over 45 pct

BENGALURU, May 7 (Reuters) - Indian miner Vedanta Ltd on Tuesday reported a 45.5 percent drop in fourth-quarter profit compared with the same period a year earlier, when it booked a hefty one-time gain.

Net profit fell to 26.15 billion rupees ($376.87 million) for the three months to March 31 from 48.02 billion rupees a year ago, Vedanta here said.

Last year, the company, controlled by billionaire Anil Agarwal, recorded a gain of 28.69 billion rupees after some asset impairment charges were reversed.

Revenue from operations came in at 230.92 billion rupees, compared with 273.11 billion rupees a year earlier. ($1 = 69.3875 Indian rupees) (Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu)

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