Vedanta Q3 result: Profit jumps 27% to ₹5,354 cr; revenue rises to ₹34,697cr
EBITDA for Q3 FY2022 was at ₹10,938 crore, higher by 42 per cent Y-o-Y, primarily supported by improved commodity prices
Anil Agarwal-led mining major Vedanta Ltd today reported 26.7 per cent rise in consolidated net profit for October-December quarter at ₹5,354 crore as compared to ₹4,224 crore profit during the same period last year.
The mining giant's revenue for Q3 FY22 stood at 34,697 crore as compared to ₹22,735 crore during the same period last year.
“Revenue for Q3 FY2022 was at ₹33,697 crore, higher by 50% Y-o-Y, primarily supported by improved commodity prices and higher sales volume across businesses, partially offset by lower sales volume at Zinc International and Iron & Steel business," the company said in a statement to the stock exchanges.
EBITDA for Q3 FY2022 was at ₹10,938 crore, higher by 42 per cent Y-o-Y, primarily supported by improved commodity prices. This was partially offset higher cost of production impacted by input commodity inflation.
The company recorded an EBITDA margin of 37 per cent during the quarter compared to 39 per cent in Q3 FY2021 and 40 per cent in Q2 FY2022.
Also read: India on growth path with innovation, digitalisation: Vedanta's Anil Agarwal
Depreciation and amortisation for Q3 FY2022 was at ₹2,274 crore, higher by 19 per cent Y-o-Y, primarily on account of higher depletion charge at oil and gas, capitalisation at Aluminium and Zinc India business.
The company said it had a strong cash and cash equivalents of ₹25,207 crore as of December 31, 2021. Its gross debt stood at ₹52,783 crore on 31st December 2021, deleveraged by ₹9,629 crore Y-o-Y, Vedanta said, adding that it is due to deleveraging at Zinc India and Aluminium business.
The company's net debt as of December 31, 2021, stood ₹27,576 crore, reduction of ₹7,781 crore Y-o-Y, on strong cash flow from operations and repayment of inter-company loan from Vedanta Resources.
The Vedanta stock closed 0.11 per cent down at ₹327.85 on the NSE today.
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