Mining and metal major Vedanta Resources today said its revenue has gone up by 7 per cent during the third quarter of the current fiscal to $3.575 billion (over Rs 19,000 crore) buoyed by higher oil and gas production by Cairn India.
The company, which has interests in areas such as copper, zinc, aluminium and iron ore among others spanning over seven countries, had clocked $3.341 billion revenue in the same quarter last fiscal, Vedanta said in a release.
Copper contributed the highest to the revenue kitty at $1.387 billion followed by oil and gas at $790 million.
Zinc was a close third at $771 million, followed by aluminium and power at $482 million and $101 million respectively.
Iron ore, which was the third highest contributor to the company’s revenue in the third quarter of the last fiscal contributing $526 million, could provide for $42.8 million during the reported quarter, representing a fall of 92 per cent.
Vedanta said Cairn India produced 21 per cent more oil and gas during the quarter driven by 36 per cent higher production at Rajasthan.
The iron ore business of the company got hugely impacted following a Supreme Court ban on mining in Karnataka and Goa, its core of areas of operations under a subsidiary Sesa Goa.
Vedanta’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) improved by 31 per cent during the quarter at $1.109 billion over $848 million a year ago.