Vedanta's metals and oil businesses post strong Q2, steel and power lag
Mumbai, Oct. 29 -- Higher commodity prices lifted earnings at billionaire Anil Agarwal-led Vedanta's metals and oil and gas businesses in the September quarter, while its steel and power units reported muted performance.
Vedanta Ltd, which holds Hindustan Zinc Ltd, and Vedanta Aluminium Metal Ltd more than doubled their profits from a year earlier, aided by elevated zinc and aluminium prices and cost rationalization.
Vedanta Oil and Gas Ltd also returned to profit, helped by higher crude oil prices despite a prolonged decline in production. The company is now banking on new recovery techniques and exploration to revive output.
It plans to begin the alkaline surfactant polymer (ASP) injection process in "a few weeks", interim chief exec...
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