Shares of mining major Vedanta on Friday rose by over 5 per cent after the company managed to lower its net loss at Rs 11,181.26 crore in the March quarter.
The stock gained 4.85 per cent to Rs 104.85 on BSE. On NSE, it climbed 5.11 per cent to Rs 104.90. Later, the share price ended 3.75 per cent up at Rs 103.75.
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.
Total consolidated income fell 10 per cent 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.