Vedanta Resources on Tuesday reported a decline of 4.72 per cent in consolidated gross profit at $848.40 million for the quarter ended December 31, 2011, largely due to lower realisations from its aluminium business and Zambian copper operations.
In a statement, the company said the gross profit or EBITDA also includes $131 million earned from
Cairn India, which was acquired by Vedanta group last year.
The company had reported its earnings before interest, tax, depreciation and amortisation (EBITDA) at $898.4 million during the corresponding quarter of 2010-11.
The gross revenues of the company, during the quarter under review, were at about $3.399 billion, marking a rise of about 10.81 per cent as compared to $3.068 billion of the Q3 of 2010-11.
However, lower London Metal Exchange (LME) prices and "mark to market (MTM) losses on foreign currency borrowings for working capital on account of the depreciation of the Indian rupee" pulled down the profit of its aluminium business, the company said in a statement.
The gross profits from the aluminium business of the company were down by about 95 per cent during the quarter to USD 3.6 million vis-a-vis $76.3 million of Q3 of FY'11.
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