Vedanta's Q1 net profit drops 30% to Rs 615 cr

Mining conglomerate Vedanta Ltd today reported a 30 per cent fall in consolidated net profit at Rs 615.02 crore for the quarter ended June 30. The Anil Agarwal-led firm had clocked a net profit of Rs 884.14 crore in the year-ago period, the company said in a BSE filing. Total consolidated income declined by 15 per cent to Rs 14,437.08 crore in April-June quarter this fiscal from Rs 17,008.81 crore during the same quarter in 2015-16. Total expenses of the company were, however, lower at Rs 12,489.51 crore as against Rs 14,423.47 crore during the same period last fiscal. Shares of Vedanta fell by 2.69 per cent to close at Rs 164.60 apiece on BSE.