Vedanta net profit drops 25.54 pc to Rs 1,574 cr in Dec quarter

Metals and mining giant Vedanta Ltd Thursday reported a 25.54 per cent decline in consolidated net profit at Rs 1,574 crore for the December 2018 quarter, on the back of higher expenses and drop in commodity prices.

It had posted a consolidated net profit of Rs 2,114 crore in the corresponding quarter of the previous fiscal, the company said in a filing to the BSE.

The net profit is "after taxes, non-controlling interests and share in profit of jointly controlled entities and associates but before exceptional items."
On the results, he said: "We are pleased with the strong operational and financial results for the third quarter. We achieved record zinc and lead MIC volumes and silver production at Hindustan Zinc, and had the highest-ever alumina production."
On Electrosteel Steels' output, Venkatakrishnan said during a conference call: "We have already achieved our medium-term target to ramp up to about 1.5 million tonne per annum and are focusing on the next stage of expansion."