Vedanta Ltd Q1 net drops 35% to Rs 866 cr

July 29, 2015 17:19

Vedanta Ltd today reported a 35.44 per cent fall in net profit to Rs 865.94 crore for the June quarter on a consolidated basis on account of volatile commodity prices among other factors.

Billionaire Anil Agarwal-led mining conglomerate hadreported a net profit of Rs 1,341.23 crore during the firstquarter of 2014-15.

The company, which was earlier known as Sesa Sterlite, sawits net sales decline marginally to Rs 16,951.88 crore duringthe quarter from Rs 17,055.5 crore in a year-ago period.

Total expenses of the company rose to Rs 14,742.34 croreduring the period as against Rs 13,599.20 year-ago.

"As a result of lower EBITDA partially offset by lowerfinance cost, forex gain and lower depreciation andamortisation, attributable PAT at Rs 866 crore was 35 per cent lower in Q1FY2016 as compared to Rs 1,341 crore (before exceptional items) in Q1FY2015," Vedanta said in a statement.

« Back to LIVE

TOP STORIES

Raj Bhavan employee files molestation case against Bengal guv

Senior police officials said they received a complaint and are looking into it.

Intense heat sweeps east, south; more heat wave days likely in May

Intense heat swept through east India and parts of the southern peninsular region on Thursday, testing power grids and prompting the Kerala government to order closure of educational institutions till May 6.

Cummins hails Bhuvi's last-ball heroics

Defending 12 in the final over, Bhuvneshwar trapped Rovman Powell in front of the wicket in the last ball to stop Rajasthan Royal's run chase at 200 for 7 and pull off a heist in the end.

'Game never done till it's done': Samson rues loss

Rajasthan Royals skipper Sanju Samson said that even while it seemed his side was cruising to victory he was not certain they would get over the line given the unpredictable nature of the league.

In Pictures - SRH seal dramatic win, edge past RR by 1 run

IMAGES from the IPL match between Sunrisers Hyderabad and Rajasthan Royals played in Hyderabad on Thursday