Vedanta Q1 net profit down 49.82% at Rs 1674.00 cr
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The company reported standalone net profit of Rs 1,674.00 crore for the quarter ended June 30, 2022 as compared to Rs 3336.00 crore in the same period last year, registering a year-on-year decline of 49.82 per cent. Net revenue of the company rose substantially by 38.00 per cent at Rs 17,779.00 crore in April-June quarter of this fiscal as against Rs 12,883.00 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 63.39 per cent to Rs 15,016.00 crore from Rs 9,190.00 crore in year ago period. Other Income dipped by 87.56 per cent at Rs 174.00 crore versus (Jun'21 Rs 1,399.00 crore). Operating Profit slipped by 23.12 per cent to Rs 2,897.00 crore as against Rs 3,768.00 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 44.31 per cent in June quarter. Interest grew by 18.84 per cent y-o-y to Rs 858.00 crore, while Taxation decreased by 182.47 per cent at Rs -334.00 crore (Jun'21 Rs 405.00 crore).
