Weak aluminium prices take shine off Vedanta's December quarter performance

Apart from weak prices, a revenue decline of 3 per cent YoY, to Rs 23,669 crore, was led by the shutdown of the Tuticorin copper smelter

Vedanta’s December quarter performance bore the brunt of soft commodity prices, as expected, even though continuing volume growth and control over costs managed to offset some of the weakness.

Average aluminum prices (including premium) were down 5 per cent sequentially and 7 per cent year-on-year (YoY) to $2,051 per tonne during the quarter, at the London Metal Exchange. Further, zinc prices at $2,631 a tonne were 19 per cent lower YoY, though they improved 4 per cent sequentially.

Apart from weak prices, a revenue decline of 3 per cent YoY, to Rs 23,669 crore, was led by the shutdown of the Tuticorin