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(26/07/2019 16:20)

Vedanta posts Q1 net loss of Rs 250.00 cr

The company reported standalone net loss during the quarter stood at Rs 250.00 crore compared to net profit of Rs 130.00 crore in the previous year quarter.ÿ

Net revenue of the company declined moderately by 12.05 per cent at Rs 8,522.00 crore in April-June quarter of this fiscal as against Rs 9,690.00 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 1.42 per cent to Rs 7,625.00 crore from Rs 7,735.00 crore in year ago period.

Other Income grew by 77.57 per cent at Rs 190.00 crore versus (Jun'18 Rs 107.00 crore).

Operating Profit slipped by 49.26 per cent to Rs 992.00 crore as against Rs 1,955.00 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 42.32 per cent in June quarter.

Interest declined by 18.27 per cent y-o-y to Rs 881.00 crore, while Taxation decreased by 299.18 per cent at Rs -243.00 crore (Jun'18 Rs 122.00 crore).