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.

Published on: Nov 4, 2023, 16:36:10 IST

PTIPosted by Singh Rahul Sunilkumar

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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.

ABOUT THE AUTHOR
Singh Rahul Sunilkumar
A journalist with an engineer's core is trying to make news easier to grasp. He loves breaking down complex topics into digestible form. Obsessed with ISRO, his bylines cover science, technology, business, and, of course, Indian politics. When he's not on shift, you can find him sleeping on books.Read More

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