Vedanta net up 14% in Dec quarter on lower cost

Our Bureau Mumbai | Updated on January 31, 2020

Billionaire Anil Agarwal-promoted Vedanta has reported a 14 per cent increase in December quarter net profit at ₹2,665 crore, against ₹2,332 crore logged in the same period last year, on the back of lower cost.

Revenue from operations was down 10 per cent at ₹21,126 crore (₹23,435 crore) due to lower commodity prices and muted volumes in zinc, oil and gas and copper business, partially offset by exploration cost recovery in oil and gas.

Overall expenses were down at ₹18,369 crore (₹21,589 crore) on lower raw material and finance cost.

EBITDA for the quarter under review was up 10 per cent at ₹6,531 crore due to exploration cost recovery of ₹1,276 crore in oil and gas business, lower cost of production but it was offset by lower volume and commodity prices, said the company.

Published on January 31, 2020

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