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Vedanta Q2 net profit falls 60% on higher expenses; revenue up 20%

Vedanta's oil and gas business also took a hit due to the windfall tax and lower crude prices in Q2, analysts said

Vedanta
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Vedanta ended trade 1.18 per cent down on the BSE on Friday at Rs 284.85 per share versus the previous day’s close

BS Reporter Mumbai
Metals and mining major Vedanta on Friday reported a 60.8 per cent year-on-year (YoY) decline in consolidated net profit at Rs 1,808 crore for the quarter ended September 30, 2022 (Q2), on the back of higher expenses. This was a sharp miss from the Bloomberg consensus estimate of Rs 2,036 crore.

The company had posted a consolidated net profit of Rs 4,615 crore in the year-ago period. Sequentially, net profit declined 59.1 per cent in Q2. The company had reported a net profit of Rs 4,421 crore in the June quarter.

Vedanta's revenue during the quarter under review increased to

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First Published: Oct 28 2022 | 7:34 PM IST

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