{"id":273388,"date":"2019-05-08T05:17:33","date_gmt":"2019-05-08T05:17:33","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=273388"},"modified":"2019-05-08T05:17:33","modified_gmt":"2019-05-08T05:17:33","slug":"vedanta-posts-46-fall-net-profit-on-one-time-reversal-in-impairment-gain","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/vedanta-posts-46-fall-net-profit-on-one-time-reversal-in-impairment-gain\/","title":{"rendered":"Vedanta posts 46% fall net profit on one-time reversal in impairment gain"},"content":{"rendered":"<p>MUMBAI: Mining and metals giant Vedanta Ltd reported a net profit of \u20b92615 crore, down 46% from \u20b94802 crore in the year-ago period. While the March quarter&#8217;s performance was better than expected driven by higher volumes in sales of metals and better cost management, the net profit was lower because of a one-time reversal in impairment gain, it had recorded last year.<\/p>\n<p>However, the shutdown of the copper smelter at Thoothukudi weighed on its revenue, shrinking 15% year-on-year to \u20b923,092 crore in the March quarter from \u20b927,311 crore in the same period a year ago. Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at \u20b96,330 crore for the quarter, lower by 19% from the March 2018 quarter which had reported \u20b97,767 crore. The company\u2019s EBITDA was affected by lower commodity prices, rupee appreciation, and lower volumes at Zinc India.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Mining and metals giant Vedanta Ltd reported a net profit of \u20b92615 crore, down 46% from \u20b94802 crore in the year-ago period. While the March quarter&#8217;s performance was better than expected driven by higher volumes in sales of metals and better cost management, the net profit was lower because of a one-time reversal in impairment gain, it had recorded last year. However, the shutdown of the copper smelter at Thoothukudi weighed on its revenue, shrinking 15% year-on-year to \u20b923,092 crore in the March quarter from \u20b927,311 crore in the same period a year ago. Earnings before interest, taxes, depreciation [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-273388","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/273388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=273388"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/273388\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=273388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=273388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=273388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}