Vedanta Q2 net profit falls 62% to Rs 824 cr over one-time tax expense
Vedanta on Friday reported a 61.8 per cent decline in consolidated net profit at Rs 824 crore for the quarter ended September 30, 2020 on the back of one-time tax expense.
The company posted a net profit of Rs 2,158 crore in the year-ago period, Vedanta said in a filing to BSE.
Income during July-September declined to Rs 21,744 crore from Rs 22,814 crore in the year-ago period, the filing said.
The company said in a statement the tax expense for the quarter was at Rs 2,370 crore.
“EBITDA for Q2 FY2021 was at Rs 6,531 crore, higher by 63 per cent q-o-q, mainly due to higher commodity prices, higher volumes at zinc business, lower cost of production at Zinc India and aluminium business, partially offset by higher input commodity prices,
