Vedanta posts net loss of Rs 12,521 crore in Q4 – Times of IndiaNEW DELHI: Diversified pure sources agency Vedanta on Saturday reported consolidated internet lack of Rs 12,521 crore for the quarter ended March 31, 2020 on the distinctive lack of Rs 17,132 crore, primarily as a result of impairment of belongings in oil and fuel, copper and iron ore enterprise.

Vedanta posts net loss of Rs 12,521 crore in Q4 – Times of India

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Nonetheless, the corporate had posted internet revenue of Rs 2,615 crore within the year-ago interval, Vedanta mentioned in a submitting to the BSE.

The consolidated revenue of the corporate throughout January-March quarter dropped to Rs 20,382 crore, over Rs 25,096 crore within the year-ago interval, the submitting mentioned.

“The Covid pandemic has hit the world and us within the final quarter of the 12 months. Now we have taken a proactive method to maintain our belongings and other people secure whereas guaranteeing optimum operations throughout these troublesome occasions.

“Throughout these troublesome occasions, our efforts are aligned to the singular imaginative and prescient of creating our communities, the state and nation self-reliant and self reliant,” Vedanta chief govt officer Sunil Duggal mentioned in a press release.

The distinctive gadgets for the fourth quarter of monetary 12 months 2020 was at Rs 17,132 crore, primarily as a result of impairment of belongings at oil and fuel, copper and iron ore enterprise.
“Distinctive loss for monetary 12 months 2020 was at Rs 17,386 crore, primarily as a result of impairment of belongings at Oil and fuel, triggered majorly as a result of vital fall in crude oil costs primarily consequent to the outbreak of COVID-19…,” the assertion mentioned.

The corporate mentioned its income for the fourth quarter of monetary 12 months 2020 was at Rs 19,513 crore, decrease by eight per cent sequentially, primarily as a result of decrease commodity costs additional impacted by COVID-19 and decrease quantity at aluminium enterprise amongst others.

“EBITDA (Earnings earlier than curiosity, taxes, depreciation, and amortization) for fourth quarter of monetary 12 months 2020 was decrease by 23 per cent year-over-year, primarily as a result of decrease commodity costs additional impacted by COVID-19, decrease quantity Zinc, oil and fuel and metal enterprise…,”it mentioned.

Finance value for the reported quarter was at Rs 1,064 crore, decrease by 14 per cent sequentially and 24 per cent year-over-year, primarily as a result of decrease common borrowing value consistent with market tendencies and compensation of debt at numerous companies.
The corporate’s gross debt was at Rs 59,187 crore on March 31, 2020.

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