Vedanta shares tumble nearly 20 pct after disappointing December quarter

Devdiscourse News Desk| Delhi | India

Updated: 01-02-2019 12:04 IST | Created: 01-02-2019 11:16 IST

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Shares of mining giant Vedanta Friday tumbled nearly 20 per cent after the company reported a 25.54 per cent decline in consolidated net profit for the December 2018 quarter. Shares of the company opened the day on a weak note and further plummeted 19.82 per cent to Rs 158.35 -- its 52-week low -- on the BSE. On the NSE, its counters slumped 19.86 per cent to one-year low of Rs 158.15. Vedanta was the biggest loser on both key indices during the morning trade.

The metal and mining major Thursday reported a 25.54 per cent fall in consolidated net profit at Rs 1,574 crore for the December 2018 quarter. It had posted a consolidated net profit of Rs 2,114 crore in the corresponding quarter of the previous fiscal, the company said in a filing to the BSE. Total expenses increased to Rs 21,589 crore, from Rs 20,456 crore a year ago.

(With inputs from agencies.)

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