Vedanta Rs 20k cr loss in oil business |
Anil Aggarwal-led Sesa Sterlite, which was renamed as Vedanta recently , has been hit hard by falling crude prices as it booked nearly Rs 20,000 crore ($3 billion) as "goodwill impairment charges" related to its oil and gas business. The write-down resulted in the company posting the biggest quarterly loss in the country`s corporate history. Vedanta reported a consolidated net loss for the January-March quarter as against a profit of Rs 1,621 crore in the corresponding quarter last year.
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