{"id":376687,"date":"2020-10-05T08:49:18","date_gmt":"2020-10-05T03:19:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=376687"},"modified":"2020-10-05T09:23:29","modified_gmt":"2020-10-05T03:53:29","slug":"vedantas-q1-profit-tumbles-23-5-as-covid-19-lockdown-hurts-output-demand","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/vedantas-q1-profit-tumbles-23-5-as-covid-19-lockdown-hurts-output-demand\/","title":{"rendered":"Vedanta&#8217;s Q1 profit tumbles 23.5% as Covid-19 lockdown hurts output, demand"},"content":{"rendered":"<p>Billionaire Anil Agarwal\u2019s Indian commodities conglomerate Vedanta Ltd. posted a 23.5% drop in quarterly profit as one of the world\u2019s strictest lockdowns hit production and demand. <\/p>\n<p>Group net income slumped to Rs 1,033 crore ($141 million) in the three months to June from Rs 1,351 crore a year earlier, the company said in a statement late Saturday. Sales fell 25.9% to Rs 15,687 crore. <\/p>\n<p>Key Insights <\/p>\n<p>Vedanta\u2019s main businesses include zinc, aluminum and oil and gas, all of which have been hit by a slump in demand due to the coronavirus pandemic Agarwal\u2019s London-based Vedanta Resources Ltd. is in the process of taking Mumbai-listed Vedanta private by buying out minority shareholders to simplify his investments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire Anil Agarwal\u2019s Indian commodities conglomerate Vedanta Ltd. posted a 23.5% drop in quarterly profit as one of the world\u2019s strictest lockdowns hit production and demand. Group net income slumped to Rs 1,033 crore ($141 million) in the three months to June from Rs 1,351 crore a year earlier, the company said in a statement late Saturday. Sales fell 25.9% to Rs 15,687 crore. Key Insights Vedanta\u2019s main businesses include zinc, aluminum and oil and gas, all of which have been hit by a slump in demand due to the coronavirus pandemic Agarwal\u2019s London-based Vedanta Resources Ltd. is in the [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-376687","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376687","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=376687"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376687\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=376687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=376687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=376687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}