London Stock Exchange listed Vedanta Resources' associate company Vedanta said consolidated profit during July-September quarter grew by 11.9 percent year-on-year to Rs 1,252 crore. Bottomline was supported by operational performance but growth limited due to weak revenue.
Vedanta, an associate company of the London Stock Exchange listed diversified resources group Vedanta Resources Plc, is expected to report a 5 percent degrowth in second quarter profit at Rs 930 crore and a 6 percent fall in revenue at Rs 15,519.3 crore on yearly basis, according to analysts polled by CNBC-TV18.
The company may look to import iron ore if global prices correct.
NMDC increased its iron ore prices by Rs 100 per tonne from February 1 and the iron ore fine prices now stand at Rs 2,910 per tonne.