Vedanta Q3 PAT increases by 26% YoY to Rs 4,164 cr


On a consolidated basis, the diversified natural resources company’s net profit rose 26% to Rs 4,164 crore on a 50% increase in net sales to Rs 33,697 crore in Q3 December 2021 compared to Q3 December 2020.

Profit before tax (PBT) jumped by 44% to Rs 7,792 crore in Q3 FY2022 from Rs 5,410 crore in Q3 FY2021. Attributable profit after tax (PAT) fell 10% quarter-on-quarter.

The company’s annual revenue growth was supported by improving raw material prices and higher sales volumes across all businesses, partially offset by lower sales volumes at Zinc International and Iron & Steel.

Third-quarter Fiscal 2022 revenue increased 12% quarter-on-quarter, supported by improved raw material prices and higher sales volume across all businesses, partially offset by lower in sales volume at Zinc International and the Oil & Gas business.

EBITDA for the third quarter of FY2022 was Rs 10,938 crore, up 42% year-on-year, mainly supported by improving commodity prices. This was partially offset by higher production costs impacted by raw material inflation.

Third Quarter Fiscal 2022 EBITDA increased 3% quarter-on-quarter, primarily driven by improved raw material prices and higher sales volume across all businesses, partially offset by higher the cost of production impacted by the inflation of raw materials.

The company reported an EBITDA margin of 37% in the quarter, compared to 39% in Q3 2021 and 40% in Q2 2022.

The company has cash and cash equivalents of Rs 25,207 crore. Net debt stood at Rs 27,576 crore as of December 31, 2021, a reduction of Rs 7,781 crore year-on-year, mainly due to strong operating cash flow and repayment of intercompany loan from Vedanta Resources, offset by capital expenditures and the payment of dividends.

Sunil Duggal, CEO, said we have entered into a number of partnerships to bring best-in-class expertise and also reinforce our commitment to transforming communities and the workplace.

“We delivered another strong quarter, with robust margins benefiting from operational efficiencies and strong raw material prices despite raw material headwinds, which played a big role with the highest quarterly production on record from HZL, Aluminum & ESL.”

The Board of Directors has approved a second interim dividend of Rs 13.50 per share for the year ended March 31, 2022.

Vedanta, a subsidiary of Vedanta Resources, is one of the world’s leading oil, gas and metals companies with significant operations in oil and gas, zinc, lead, silver, copper, iron ore , steel, aluminum and electricity in India and South Africa. and Namibia.

Shares of Vedanta fell 0.18% to Rs 327.70 on Friday, January 28, 2022.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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