Diversified natural resources firm Vedanta on Saturday reported a consolidated net loss of Rs 12,521 crore during the fourth quarter of 2019-20 against a net profit of Rs 2,615 crore in the corresponding period of the previous fiscal.
The profit was impacted by an exceptional loss of Rs 17,132 crore during the quarter because of impairment of assets in its oil & gas, copper and iron ore businesses, Vedanta said in a filing to the BSE.
The significant fall in crude oil prices following the outbreak of Covid-19 acted as a major trigger for the loss, the company added.
The consolidated income of the company during the January-March quarter dropped to Rs 20,382 crore over Rs 25,096 crore in the year-ago period, the filing said.
