The merger will help cut billionaire Anil Agarwal-led Vedanta Resources' Rs 37,636 crore gross debt by using Rs 16,870 crore cash lying with Cairn as well as over 
Rs 14,000 crore of cash the firm generates every year
The merger will help cut billionaire Anil Agarwal-led Vedanta Resources' Rs 37,636 crore gross debt by using Rs 16,870 crore cash lying with Cairn as well as over Rs 14,000 crore of cash the firm generates every year

Anil Agarwal-led natural resources company Vedanta Ltd has reported a 23.5 per cent drop in its consolidated net profit for the quarter ended June of the current financial year (2020-21).

Its consolidated net profit during the April-June quarter was Rs 1,033 crore, against Rs 1,351 crore reported during the same period of the previous financial year, the company said in a regulatory filing.

The company's revenue from sales declined 25.9 per cent on a year-on-year basis to Rs 15,687 crore during the quarter ended June.

Its total income for the period under review stood at Rs 16,998 crore, 21.9 per cent lower than Rs 21,754 crore earned during the same period last year.

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