Vedanta’s Q3 profit up 58% on higher realisation

Vedanta’s Q3 profit up 58% on higher realisation

Vedanta, a conglomerate with varied interest in metals and mining, has reported that its net profit was up 58 per cent in the December quarter at ₹4,224 crore against ₹2,665 crore logged in the same period last year, on lower cost and higher realisation.

Income from operations was up six per cent at ₹22,498 crore (₹21,126 crore). Total expenses of the company were down at ₹18,211 crore (₹18,369 crore).

Ebitda increased 18 per cent to ₹ 7,695 crores, the highest in last 11 quarters.

Sunil Duggal, Chief Executive Officer, Vedanta said the businesses stayed resilient in the quarter amid uncertain market environment.

The ramp up of zinc and iron and steel verticals along with successful project delivery in the oil and gas vertical, he said.

The company’s net debt was higher by ₹14,084 crore at ₹ 35,357 crore due to intercompany loan to Vedanta Resources and dividend payment. Gross debt was up by ₹ 3,225 crore at ₹ 62,412 crore , mainly due to temporary borrowing at Zinc India.

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