May 12 Reuters Indian metalstooil conglomerate Vedanta Ltd reported a 68 slump in fourthquarter profit on Friday after revenue fell amid declining prices of metals.

Vedanta39;s consolidated net profit stood at 18.81 billion rupees 230 million for the quarter ended March 31, compared with 57.99 billion rupees a year earlier, the billionaire Anil Agarwalled company said in an exchange filing.

Analysts had, on average, expected a profit of 28.91 billion rupees, according to Refinitiv IBES data.

The metals and mining major39;s quarterly revenue fell 5.4 to 372.25 billion rupees. The share of revenue from the mainstay aluminium business reduced to 33 from 39.

Zinc and aluminium prices have plunged more than 40 from the record highs hit in March 2022.

Total expenses climbed 10.5 to 330.4 billion rupees from a year earlier, with finance costs jumping 35 and depreciation amortization costs surging 16.

The results come as Vedanta Groupowned Hindustan Zinc39;s proposal to buy certain zinc assets from Vedanta Ltd for 2.98 billion lapsed after failing to get shareholders39; approval.

The company39;s earnings before interest, taxes, depreciation, and amortisation slumped 32.

Meanwhile, the losses due to a windfall tax on oil exports fell to 1.18 billion rupees from 3.33 billion rupees in the December quarter after the government reduced levies.

Total aluminium sales contracted 1.4, but production remained flat.

Last month, Hindustan Zinc reported a fall in quarterly profit,…