Natural resources major Vedanta Ltd on Tuesday recorded an over 350 per cent jump in consolidated net profit for the third quarter ended December at Rs 1,866 crore, as compared to the same period of the last fiscal, mainly on the back of operational performance.
The Anil Aggarwal-led mining company had posted a profit after tax of Rs 409 crore in the corresponding period of 2015-16. Revenue during the quarter in question increased 29.6 per cent to Rs 20,393 crore on strong operational performance, as compared with Rs 15,731 crore in corresponding quarter of the last fiscal. "Revenues in Q3 were driven by higher volumes of iron ore due to the recommencement of operations, the ramp-up of volumes at the aluminum and power businesses and higher volumes at Copper India and Zinc India," Vedanta said in a stock exchange filing. "This was partially offset by lower volumes of oil and gas, and Zinc International due to a closure of the Lisheen mine, in Q3 FY2016," it added.
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