Vedanta Q2 profit slumps 43% YoY to Rs 1,135 crore; firm announces Rs 17 dividend


Vedanta Q2 profit slumps 43% YoY to Rs 1,135 crore; firm announces Rs 17 dividend

Vedanta on Wednesday reported a 43 per cent drop in profit after tax (PAT) at Rs 1,135 crore for September quarter on lower interest income. Analysts in an ET NOW poll had estimated the profit figure at Rs 1,324 crore.

The company had posted Rs 1,990 crore profit in the corresponding quarter last year. The board of the company announced an interim dividend of Rs 17 per share for fiscal year 2019.

Net sales for the quarter rose 5 per cent to Rs 22,705 crore, which beat analysts’ estimate of Rs 20,459 crore.

Revenues rose on higher volumes at its aluminium business, higher availability at Talwandi Sabo Power, acquisition of Electrosteel, currency depreciation and higher commodity prices. Read More

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