May 3, 2018 / 11:13 AM / 20 days ago

Vedanta fourth-quarter profit climbs 81 percent

(Reuters) - Vedanta Ltd, the Indian unit of diversified mining group Vedanta Resources Plc, posted an 81 percent surge in quarterly profit on Thursday, helped by higher volumes and favourable commodity prices.

FILE PHOTO: A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui/File Photo

Net profit came in at 48.02 billion rupees ($721.02 million) for the three months ended March 31, compared with 26.47 billion rupees a year earlier, the company said in a statement (here).

Net revenue from operations (net of excise duty) for the quarter grew nearly 23 percent to 276.30 billion rupees driven by higher volumes from oil & gas, aluminium, copper India business and improved commodity prices, Vedanta said.

($1 = 66.6000 Indian rupees)

Reporting by Krishna V Kurup in Bengaluru; Editing by Vyas Mohan

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