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Vedanta Aluminium Profits Surge Past Double
28 Oct
Summary
- Consolidated net profit more than doubled to 51.67 billion rupees.
- Operations revenue climbed 40% amid elevated aluminium prices.
- Record aluminium production reached 649,000 metric tons.
Vedanta Aluminium has announced a substantial financial performance, with its consolidated net profit more than doubling year-on-year to 51.67 billion rupees for the quarter ending September 30. This significant increase reflects a robust 40% rise in revenue from operations, reaching 223.24 billion rupees.
The surge in profits and revenue is closely linked to elevated aluminium prices, influenced by supply disruptions in the Middle East and sustained global demand. The company's aluminium production hit an all-time high of 649,000 metric tons, a 5% increase from the prior year.
Further enhancing its financial standing, Vedanta Aluminium saw its net profit margin improve to 29% from 19%, despite a 15% increase in expenses to 139.24 billion rupees. The quarterly results also accounted for a one-time charge of 4.85 billion rupees.
