Vedanta Aluminium quarterly profit more than doubles on high prices, record production

India's Vedanta Aluminium reported on Wednesday that its second-quarter profit more than doubled, helped by high aluminium prices due to Middle East supply disruptions and record production.

Here are some details:

* The company, formed by the demerger of Vedanta in May, said its consolidated net profit rose to 51.67 billion rupees ($542.82 million) for the quarter ended September 30 from 23.73 billion rupees a year earlier


* Revenue from operations rose 40% to 223.24 billion rupees

* Aluminium prices remained elevated during the quarter due to supply disruptions caused by the Middle East war and strong global demand

* Spot aluminium prices rose 23% year-on-year in the September quarter, but fell 10% quarter-on-quarter, according to data cited by analysts at Jefferies and Motilal Oswal

* The company's aluminium production increased 5% on-year to a record 649,000 metric tons

* Net profit margin improved to 29% from 19%, while expenses rose 15% to 139.24 billion rupees

* The quarterly results included a one-time charge of 4.85 billion rupees

* Separately, Vedanta reported a more than 9% rise in profit on Wednesday, boosted by higher base metal prices.