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( 14 Nov 2019)
Vedanta Q2 net profit zooms 11103.85% at Rs 2913.00 cr

The company reported standalone net profit of Rs 2,913.00 crore for the quarter ended September 30, 2019 as compared to Rs 26.00 crore in the same period last year, registering a year-on-year growth of 11103.85 per cent.

Net revenue of the company declined by 0.94 per cent at Rs 9,599.00 crore in July-September quarter of this fiscal as against Rs 9,690.00 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 7.62 per cent to Rs 8,886.00 crore from Rs 8,257.00 crore in year ago period.

Other Income grew by 1206.15 per cent at Rs 2,338.00 crore versus (Sep'18 Rs 179.00 crore).

Operating Profit slipped by 43.20 per cent to Rs 814.00 crore as against Rs 1,433.00 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 42.66 per cent in September quarter.

Interest declined by 14.20 per cent y-o-y to Rs 900.00 crore, while Taxation decreased by 2747.37 per cent at Rs -1,509.00 crore (Sep'18 Rs 57.00 crore).