Anil Agarwal-led corporate Vedanta Reported Web Loss Of Rs 12,521 Crore In March Quarter Amid Covid-19 Coronavirus


Vedanta Reported Net Loss Of Rs 12,521 Crore In March Quarter

Earnings from operations for the fourth quarter stood at Rs 19,513 crore.

The Anil Agarwal-led corporate Vedanta on Saturday reported internet lack of Rs 12,521 crore for the quarter ended March 31, 2020, in comparison to internet benefit of benefit of Rs 2,615 crore within the year-ago length. This got here at the again of a one-time lack of Rs 17,132 crore bobbing up from impairment of belongings within the oil and fuel, copper and iron ore industry, Vedanta stated in a submitting to the BSE.

“The COVID pandemic has hit the arena and us within the final quarter of the yr. We’ve got taken a proactive solution to stay our belongings and other folks protected whilst making sure optimal operations all over those tricky occasions, Vedanta Leader Govt Officer Sunil Duggal stated in a commentary.

The consolidated source of revenue of the corporate all over January-March quarter declined to Rs 20,382 crore from Rs 25,096 crore within the year-ago length.

The corporate stated its income from operations for the fourth quarter of monetary yr 2020 stood at Rs 19,513 crore, decrease via eight in line with cent sequentially, essentially because of decrease commodity costs in wake of Covid-19 and decrease quantity within the aluminium industry.

The stocks of Vedanta had ended at Rs 105, upper via 0.nine in line with cent, on Friday.

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