Copper production from India fell 73.3 per cent in the quarter after the company closed its facility in southern India.
Vedanta's Chief Executive Officer Srinivasan Venkatakrishnan, at the post-earnings conference call, said the primary reason for the drop in profit was decline in commodity prices.
Miner Vedanta Resources Plc, which is set to taken private by Chairman Anil Agarwal, reported on Monday a 26.3 per cent rise in first-quarter core earnings on higher commodity prices.
The London-listed company’s earnings before interest, taxes, depreciation and amortization (EBITDA) rose to USD 983 million, for the three months ended June 30, from USD 778 million a year earlier.
However, its copper production from India fell 73.3 per cent in the quarter after the company closed its facility in southern India earlier this year.
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