Vedanta posts Jan-Mar quarter net profit at Rs 2,988 cr

Vedanta posts Jan-Mar quarter net profit at Rs 2,988 cr

16/05/2017 12:24

Billionaire Anil Agarwal-led mining conglomerate Vedanta Ltd has reported its net profit at Rs 2,988 crore for the fourth quarter, ended March 31, 2017, mainly on account of higher revenue and production volumes.

The mining and energy group had reported a net loss of Rs 21,104 crore during the same quarter of previous year, Vedanta Ltd said in a filing to the BSE.

Further, the consolidated total income of the company too grew by 35.4 per cent at Rs 24,612.15 crore during Q4 2016-17, as compared to Rs 18,172.61 crore during the same period a year ago.

However, it’s total expenses grew to Rs 19,448.47 crore during the period, as compared to Rs 16,992.70 crore in the year-ago period.

The company said, its financial position remained strong with total cash and liquid investments of Rs 63,471 crore.

As on March 31, 2017 the company’s gross debt was at Rs 71,569 crore including short term borrowing of Rs 7,908 crore borrowed by Zinc India due to mismatch between Investment maturities and dividend payment.

Meanwhile, shares of the company were trading at Rs 243.25 apiece, up 0.81 per cent, from previous close on BSE at 12:30 hours.

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