Vedanta net profit down 12% at Rs 1351 crore in Q1 as expenses increase

Anil Agarwal-led Vedanta Ltd today reported a consolidated net profit of Rs 1,351 crore in June quarter, down 12 per cent from same period last year on lower revenue and higher expenses.

The company’s topline in the period under review stood at Rs 21,167 crore, down 3.5 per cent from same period last year. Meanwhile, total expenses on a consolidated basis grew 2.11 per cent in the June quarter at Rs 19,672 crore. Higher cost of material consumed and increased power and fuel cost led to the rise in overall expenses.

Under exceptional item, the net tax benefit of Rs