Vedanta Resources full-year core profit declines nearly 38%
The company had reported EBITDA of $3.74 billion in the previous fiscal year.
Tom Albanese, CEO, Vedanta Resources Plc. Image Source: Official Website
Mining and energy group Vedanta Resources Plc said its full-year core profit fell 37.5%, weighed by the slump in the prices of commodities.
The company said earnings before interest, tax, depreciation and amortisation fell to $2.34 billion for the year ended March 31 from $3.74 billion a year earlier.
Vedanta, which produces iron ore, copper, aluminium, zinc, and oil, said revenue fell 16.6% to $10.74 billion.