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Vedanta Q4 Results: Profit Falls 27.4%, But Beats Estimates

Vedanta's Q4 revenue from operations also fell 6.4% to Rs 35,509 crore during the January to March period.

Kanika Bothra

(Source: Company website)

Vedanta Ltd.'s net profit declined in the fourth quarter of fiscal 2024, but still surpassed analysts' estimates.

The metal producer's net profit tumbled 27.4% to Rs 2,273 crore in the January-March period, according to an exchange filing on Thursday. This is in comparison with the Rs 1,870.4-crore Bloomberg estimate.

Revenue from operations also fell 6.4% to Rs 35,509 crore during the period.

Vedanta Q4 FY24 Results Highlights (Consolidated, YoY)

  • Revenue down 6.4% at Rs 35,509 crore (Bloomberg estimate: Rs 34,494.8 crore).

  • Ebitda declined 7.3% to Rs 8,768 crore (Bloomberg estimate: Rs 8,248.8 crore).

  • Margin contracts to 24.7% vs 24.9% (Bloomberg estimate: 23.9%).

  • Net profit down 27.4% at Rs 2,273 crore (Bloomberg estimate: Rs 1,870.4 crore).

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Other Highlights

  • Net debt at Rs 56,338 crore, down 10% QoQ.

  • Highest-ever annual aluminium cast metal production at 2,370 kt, up 3% YoY.

  • Hindustan Zinc becomes the third largest producer of silver globally.

  • Highest-ever pig iron production at 831kt, up 19% YoY.

  • Highest-ever annual saleable steel production and hot metal production at 1,386 kt and 1,473 kt, up 8% YoY.

  • Achieved all-time high annual ferrochrome production of 80 kt, up 18% YoY.

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FY25 Objectives

Aluminium

  • Completing alumina refinery expansion to 5 MTPA at Lanjigarh.

  • Increase value-added product mix by completing the expansions at BALCO and Jharsuguda.

Zinc

  • Ramp-up of underground mines capacity to 1.25 MTPA.

  • Increase in domestic coal consumption to 40%.

Other Businesses

  • Oil and gas: Drilling of more than 50 infill wells across onshore and offshore blocks.

  • Iron ore and value-added business: Goa mine ramp-up to 3.2 MTPA, taking total production to 12 MTPA.

  • Ferro Alloys Corp.: Volume ramp-up to 150 KTPA.

Shares of Vedanta were trading 1.16% lower at 3:30 p.m., as compared with a 0.75% rise in the NSE Nifty 50.

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