28th Jan 2014 14:37
LONDON (Alliance News) - Vedanta Resources PLC Tuesday released its subsidiary Sesa Sterlite Ltd's third quarter results, ahead of the release of its own results Friday.
The mining company said its fully owned subsidiary made a profit before depreciation and taxes of INR5,432 crore, an 11% fall from INR6,030 crore in the previous quarter.
However, the company said its adjusted proforma post tax profit for the quarter was INR3,478 crore, an increase on INR3,416 crore in its second quarter.
The subsidiary said its revenues for the quarter was INR19,414 crore, up from INR18,026 crore in the second quarter, primarily due to higher volumes of oil, gas and copper.
Sesa Sterlite Ltd said it has increased production of integrated refined zinc, lead and silver at its Zinc India site and has achieved record oil production during the quarter of 224,000 barrels of oil equivalent per day.
Crore is a unit equal to ten million which is widely used in India.
Vedanta Resources shares were down 0.2% to 841.5 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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