NEW DELHI : Vedanta on Friday reported 61.8 per cent decline in consolidated net profit at ₹824 crore for the quarter ended September 30, 2020 on the back of one time tax expense. The company posted a net profit of ₹2,158 crore in the year-ago period, Vedanta said in a filing to BSE. Income during July-September declined to ₹21,744 crore from ₹22,814 crore in the year-ago period, the filing said. In a statement the company said the tax expense for the quarter was at ₹2,370 crore. “EBITDA for Q2 FY2021 was at ₹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, rupee appreciation and reversal in renewable purchase obligation (RPO) liability in aluminium business due to capping of RE certificates at lower prices in Q1 FY2021,” the company said in a statement . CEO Sunil Duggal said Vedanta has reported the highest quarterly operating result for more than 2 years.
“Our key growth projects are back on track and the expansion is being delivered through strict capital allocation and balance sheet focus, aimed at creating value for our stakeholders.
