Vedanta Q2 results: Net loss of ₹1,783 cr due to tax rate change
Vedanta Q2 results: Net loss of ₹1,783 crore due to one-time exceptional item from new tax rate adoption.
Anil Agarwal-led Vedanta Ltd on Saturday reported a consolidated net loss of ₹1,783 crore for the second quarter ended September 2023 on account of one-time exceptional item because of adoption of new tax rate.
The company had posted a consolidated net profit of ₹1,808 crore in the year-ago period, Vedanta Ltd said in a filing to BSE.
The consolidated income of the company in the July-September period increased to ₹39,585 crore from ₹37,351 crore in the year-ago period.
Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is a diversified global natural resources company with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminium and power across India, South Africa and Namibia.