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Vedanta reports 41% fall in Q2 consolidated net profit

28 Oct 2015 Evaluate

Vedanta has reported results for second quarter ended September 30, 2015.

The company has reported 98.68% fall in its net profit at Rs 12.18 crore for the quarter ended September 30, 2015 as compared to Rs 923.79 crore for the same quarter in the previous year. The company’s total income has decreased by 22.10% to Rs 7602.83 crore for the quarter under review from Rs 9759.75 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 40.62% fall in its net profit after taxes, minority interest and share of profit of associates at Rs 973.97 crore for the quarter ended September 30, 2015 as compared to Rs 1639.93 crore for the same quarter in the previous year. Total income of the company has decreased by 13.24% at Rs 17776.01 crore for quarter under review as compared to Rs 20488.21 crore for the quarter ended September 30, 2014.

During the previous year, with effect from April 01, 2014, the company had revised the estimated useful lives of fixed assets. The said changes in the estimates of useful lives of assets with effect from April 01, 2014, was impacted in the quarter and year ended March 31, 2015, as a result the charge for the year ended March 31, 2015 was lower by Rs 864.85 crore. Consequently, the figures in respect of the depreciation charge for the quarter ended September 30, 2015/ previous periods/ year presented are not directly comparable.  

 

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