Vedanta shares fall 2.5% post Q4 earnings

Shares of Vedanta Limited fell 2.5 per cent Wednesday after the company reported a 33.8 per cent decline in consolidated net profit for the quarter ended on March 31, 2019. The scrip declined 2.51 per cent to close at Rs 159.30 on the BSE. Intra-day, the stock dropped 4.40 per cent to Rs 156.20.

On the National Stock Exchange, the stock declined 2.50 per cent to close at Rs 159.40. Metals and mining giant Vedanta Tuesday reported a 33.8 per cent decline in consolidated net profit to Rs 2,615 crore for the fourth quarter of 2018-19 on the back of lower income.

It had posted a consolidated net profit of Rs 3,956 crore in the corresponding quarter of 2017-18, the company said in a filing to the BSE. The company's consolidated income declined 12 per cent to Rs 25,096 crore in the quarter as compared with Rs 28,547 crore in the year-ago period.