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Vedanta Ltd, the metals and mining conglomerate registered a consolidated net profit of Rs 1343 crores, posting a 34.32 per cent decline in the July-September quarter of the current fiscal year. In the corresponding quarter of the previous fiscal, the company had recorded a net profit of Rs. 2045 crores.
The Anil Agarwal-led company’s total income during the quarter inclined to Rs 23,297 crores as against Rs 22,509 crores in the same quarter period the previous year. The total expenses of the company also jumped from Rs 18,854 crores in the Q2 FY19 to Rs 20,999 crores during the said quarter.
The company also said in a statement that its balance sheet was strong and the net debt reduced by Rs 35.53 billion in Q2 FY19.
Srinivasan Venkatakrishnan, Chief Executive Officer, Vedanta Ltd said, “I am pleased with the growth in volume this quarter at our businesses. The Company is uniquely poised to grow in commodities that have rising demand, especially in India with an enviable growth pipeline which is systematically being brought to fruition.
“I am very excited to be part of the Vedanta growth story and see a strong second half in both volumes and profitability across the businesses,” he added.
