Vedanta's Q1 profit tumbles 23.5% as Covid-19 lockdown hurts output, demand

摘要

Billionaire Anil Agarwal’s Indian commodities conglomerate Vedanta Ltd. posted a 23.5% drop in quarterly profit as one of the world’s strictest lockdowns hit production and demand. Group net income slumped to Rs 1,033 crore ($141 million) in the three months to June from Rs 1,351 crore a year earlier, the company said in a statement late Saturday. Sales fell 25.9% to Rs 15,687 crore.