Vedanta’s consolidated Q2 PAT down 40% at Rs 1,644 cr on higher tax outgo

Anil Agarwal-led Vedanta Limited reported a consolidated net profit of Rs 1,644 crore in the July-September quarter, down 40 per cent from the same period last year, as high tax expense ate into the company’s bottom line.

Consolidated net sales of the company in the quarter gone by stood at Rs 20,804 crore, down 4.3 per cent from same period last year.

This was on the back of lower volume at the oil & gas business and weak commodity prices.

The company posted strong earnings before interest, taxes, depreciation and ammortisation (Ebitda) of Rs 6,531 crore in the period under review, up 45 per cent from the corresponding period last year.