Vedanta Q2 net profit at Rs 11.35 bn, down 43% from same period last year

Increased fuel costs drag operating profit even as net sales witness 5% rise

Anil Agarwal-led Vedanta Limited on Wednesday reported a lower-than-expected consolidated net profit of Rs 11.35 billion, down 43 per cent from same period last year on the back of increased power and fuel costs even as net sales moved up in the period under review.

Topline of the company was higher-than-estimates, as it stood at Rs 227.05 billion in the September quarter, up 5 per cent from corresponding period last year as oil & gas, aluminium and power businesses made sizeable contribution.

"I am pleased with the growth in volume this quarter at our businesses. The company is uniquely poised