Vedanta’s June qtr profit falls 12% as low prices  of commodities  take  a  toll

Mumbai: Mining major Vedanta Ltd on Friday posted 12% decline in consolidated profit at ₹1,351 crore for the quarter ended 30 June, led by falling commodity prices. It had posted consolidated profit of ₹1,533 crore in the year-ago period. During the quarter, consolidated income dropped to ₹21,754 crore from ₹22,624 crore in the year earlier. The company’s gross debt stood at ₹59,517 crore. It said that it in a strong financial position with total cash and liquid investments of ₹30,774 crore.

Srinivasan Venkatakrishnan, Chief Executive Officer, Vedanta said, “We continue to strengthen our position as one of the largest diversified natural resource businesses in the world with our strategy focused on value-added growth.”