Vedanta shares tank over 18 pc; m-cap erodes by Rs 13,084 cr post Dec qtr results

Shares of mining giant Vedanta Friday tumbled over 18 per cent after the company reported a 25.54 per cent decline in consolidated net profit for the quarter ended December 31, 2018.

The company's shares plummeted 17.82 per cent to close at Rs 162.30 on the BSE. Intra-day, it tanked 19.82 per cent to Rs 158.35 -- its 52-week low.

At the NSE, shares plunged 18.11 per cent to close at Rs 161.60.

Vedanta was the biggest loser on both the key indices during the day.

Following the sharp drop in shares, the company's market valuation slumped by Rs 13,083.9 crore to Rs 60,330.10 crore on the BSE.

The metal and mining major Thursday reported a 25.54 per cent fall in consolidated net profit at Rs 1,574 crore for the quarter ended December 31, 2018.

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.

Total expenses increased to Rs 21,589 crore, from Rs 20,456 crore a year ago.