Vedanta posts net loss at Rs 1,783 crore in July-September
Anil Agarwal-led Vedanta Ltd on Saturday reported a consolidated net loss of Rs 1,783 crore in the second quarter ended September 2023, citing an one-time exceptional item in its balance sheet as a result of adoption of new tax rate.
The company had posted a consolidated net profit of Rs 1,808 crore in the year-ago period, Vedanta Ltd said in a BSE filing.
Vedanta Executive Director Arun Misra told PTI over phone that net loss is on account of one time write down that the company has taken and that is the correction the mining conglomerate has taken so that in the future the tax burden is lesser.
