Vedanta shares plunge 20%; hit 1-year low post Dec qtr results

Shares of mining giant Vedanta Friday tumbled nearly 20 per cent after the company reported a 25.54 per cent decline in consolidated net profit for the December 2018 quarter.

Shares of the company opened the day on a weak note and further plummeted 19.82 per cent to Rs 158.35 -- its 52-week low -- on the BSE.

On the NSE, its counters slumped 19.86 per cent to one-year low of Rs 158.15.

Vedanta was the biggest loser on both key indices during the morning trade.

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

 

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.