June 6, 2020 / 12:38 PM / a month ago

India's Vedanta books $1.7 bln loss in Q4 as oil prices plunge

MUMBAI, June 6 (Reuters) - Indian miner Vedanta Ltd on Saturday reported a net loss of 125.2 billion rupees ($1.7 billion) for the fourth quarter of its financial year, compared with a profit of 26.15 billion rupees in the same period a year earlier.

The company took a one-time loss of 171.3 billion rupees in the March quarter, mainly due to an impairment of assets at its Oil & Gas business, triggered largely by a fall in crude oil prices following the coronavirus outbreak.

Revenue from operations came in at 195.13 billion rupees, compared with 230.9 billion rupees a year earlier, the company said in a statement.

$1 = 75.5580 Indian rupees Reporting by Rajendra Jadhav; Editing by Mark Potter

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