Mumbai: Vedanta Ltd reported a fourth-quarter profit as India’s biggest base metals producer benefited from a rally in prices and a special dividend announced by its zinc arm. Vedanta’s net income attributable to owners was Rs1,410 crore in the three months through March and revenues were Rs24,610 crore, the unit of London-listed Vedanta Resources Plc said in a statement Monday. That compares with a loss of Rs13,840 crore a year ago because of a write-down at its oil unit. A surge in zinc prices globally saw profit at unit Hindustan Zinc Ltd. surge 43% in the quarter from a year earlier and the company announced a record payout to investors in March. Zinc prices in London advanced 36% in the past year due to a shortfall in production of the metal used to galvanize steel.

Source: Mint May 15, 2017 10:09 UTC