Vedanta posts net loss of ₹12,521 cr in Q4 due to one-time loss
New Delhi: Diversified natural resources firm Vedanta on Saturday reported consolidated net loss of ₹12,521 crore for the quarter ended March 31, 2020 on the exceptional loss of ₹17,132 crore, primarily due to impairment of assets in oil and gas, copper and iron ore business. The company had posted net profit of ₹2,615 crore in the year-ago period, Vedanta said in a filing to the BSE. The consolidated income of the company during January-March quarter dropped to ₹20,382 crore, over ₹25,096 crore in the year-ago period, the filing said. “The COVID pandemic has hit the world and us in the last quarter of the year. We have taken a proactive approach to keep our assets and people safe while ensuring optimum operations during these difficult times.
“During these difficult times, our efforts are aligned to the singular vision of making our communities, the state and nation self-reliant and self sufficient,” Vedanta Chief Executive Officer Sunil Duggal said in a statement.
