Vedanta Q3 Results: Profit Falls But Beats Estimates
Revenue rose 4.2% to Rs 35,541 crore as against Rs 34,102 crore over the same period last year.
Vedanta Ltd.'s consolidated net profit dropped in the third quarter of fiscal 2024 due to higher finance costs, but surpassed analysts' estimates.
The aluminium producer's profit declined 7.2% to Rs 2,868 crore in the October–December quarter, as compared with Rs 3,091 crore in the year-ago period, according to an exchange filing on Thursday. Analysts polled by Bloomberg had projected a consensus estimate of Rs 1,048.7 crore.
Vedanta Q3 FY24 Earnings Highlights (Consolidated, YoY)
Revenue up 4.2% at Rs 35,541 crore vs Rs 34,102 crore (Bloomberg estimate: Rs 33,687.2 crore).
Ebitda up 20.7% at Rs 8,531 crore vs Rs 7,067 crore (Bloomberg estimate: Rs 7,487 crore).
Margin expands 328 basis points to 24.00% vs 20.72% (Bloomberg estimate: 22.2%).
Net profit down 7.2% at Rs 2,868 crore vs Rs 3,091 crore. (Bloomberg estimate: Rs 1,048.7 crore).
Segmentwise Ebitda (YoY)
Domestic zinc, lead, and silver segments declined 0.7% to Rs 3,549 crore.
Zinc International fell 80% to Rs 62 crore.
Oil and gas unit witnessed a 37% drop at Rs 1,259 crore.
Aluminium unit saw a threefold jump to Rs 2,873 crore.
Power division’s operating profit stood at Rs 212 crore, down 23%.
Iron ore segment increased to Rs 634 crore vs Rs 54 crore.
Copper registered an operating profit of Rs 7 crore vs net loss of Rs 55 crore.
The company declared a dividend of Rs 11 per share, amounting to a payment of Rs 4,089 crore.
Shares of Vedanta closed 0.4% higher at Rs 263.55 apiece on the BSE before the results were announced, as compared with a 0.51% decline in the benchmark Sensex.
