The Anil Agarwal-led group had clocked a EBITDA (earnings before interest, taxes, depreciation, and amortisation) of US $1.04 billion in the first quarter of last fiscal.
Vedanta Resources on Friday reported 38% decline in operating profit to US $644.6 million (about Rs 4,135 crore) for the quarter ended June 2015 as the mining conglomerate faced a volatile commodity market that impacted metal prices.
The Anil Agarwal-led group had clocked a EBITDA (earnings before interest, taxes, depreciation, and amortisation) of US $1.04 billion in the first quarter of last fiscal.
The company said in a statement that its revenue fell 4% to US $2.95 billion in April-June quarter of the current fiscal, from US $3.06 billion in the same quarter of 2014-15.
Vedanta Resources CEO Tom Albanese said: "In Q1 we saw continued volatility in commodity prices, but Zinc has held up quite well in view of its strong fundamentals and is now largest contributor to our EBITDA."
Vedanta will continue to focus on improving efficiency, costs and enhancing production, he added.
"We have broken ground at the Gamsberg Zinc project in South Africa, improved production at Konkola mines in Zambia and remain on track to re-start iron ore production at Goa following the monsoons," Albanese said.
Vedanta Resources' Oil & Gas segment reported a 61% drop in EBITDA at US $215.4 million in Q1 2015-16 from US $549.9 million in Q1 2014-15. Revenue fell by 45% to US $413 million from US $748 million in the June quarter.
Zinc India business' operating profit grew 11% at US $255.4 million in June quarter this fiscal from US $230.2 million in the year-ago period. Revenue rose 15% to US $558.2 million from US $485.9 million in the same period.
Its Zinc International business, however posted a 3% decline in EBITDA at US $37.3 million from US $38.4 million, while revenue was also down by 4% to US $139.3 million from US $144.4 million in the reported quarter.
Vedanta Resources said the iron ore business posted a fall of 12% in operating profit at US $3.4 million in Q1 2015-16 from US $3.9 million in Q1 2014-15. Revenue also fell by 12% to US $75.6 million compared to US $85.6 million during the same period.
Copper India and Australia segment's operating profit jumped a whopping 148% to US $82.4 million April-June of this fiscal from US $33.2 million in the same quarter in 2014-15. Revenue rose 10% to US $877.4 million from US $797.6 million during the reported quarter.
While is the case of Copper Zambia, the EBITDA nosedived 78% to US $6 million from US $28 million, whereas, revenue rose marginally to US $289.2 million from US $287.5 million in the quarter under review.
Aluminium segment's EBITDA plummeted 102% to US $1.9 million in Q1 2015-16 from US $88.4 million in Q1 2014-15.
Revenue was down 2% to US $430.4 million from US $438.5 million in the same period.
Power arm's EBITDA fell 35% to US $43.6 million from US $66.7 million. However, revenue was up 17% to US $190.2 million from US $162.5 million.
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