Vedanta stocks rise over 5% as net loss narrows in Q4

Shares of mining major Vedanta on Friday rose over 5% after the company managed to lower its net loss at Rs 11,181.26 crore in the March quarter.

The stock gained 4.85% to Rs 104.85 on the Bombay Stock Exchange (BSE).

On the National Stock Exchange (NSE), it climbed 5.11% to Rs 104.90. At 13:27 hours, the shares of Vedanta were trading up 1.55% or Rs 1.55 to Rs 101.35 per scrip on the NSE.

Vedanta on Thursday reported a consolidated net loss of Rs 11,181.26 crore in the March quarter of the last fiscal due to a non-cash impairment charge of Rs 12,304 crore largely relating to Cairn India.

However, the firm managed to lower its net loss compared to the year-ago period. It had posted a net loss of Rs 19,228.12 crore during January-March of 2014-15, it had said in a BSE filing.

The company's total consolidated income fell 10% to Rs 15,979.3 crore during January-March of 2015-16, from Rs 17,804 crore a year ago, due to fall in oil and metal prices. It was partially offset by higher volumes. 

At 13:24 hours, the shares of Vedanta were trading up 1.65% or Rs 1.65 to Rs 101.65 per scrip on the BSE.