INSUBCONTINENT EXCLUSIVE:
Metals and mining major Vedanta on Friday reported a 41 percent year-on-year (YoY) fall in consolidated net revenue (attributable to
owners) to Rs 2,464 crore for the quarter ended December 31, 2022
This was generally because the business was hit by lower output and weak commodity costs.
Q3 bottom line missed Bloomberg consensus
estimates, which had actually pegged net profit for the quarter at Rs 5,516 crore
The companys net earnings a year ago stood at Rs 4,164 crore
As compared to the previous quarter (Q2 of FY23), net earnings was up 36.3 percent.
In its current functional upgrade for Q3, the business
had actually indicated that aluminium and steel production had declined by 2 percent and 13 per cent each YoY
Likewise, iron ore sales had decreased by 18 per cent versus a year back
The businesss typical daily gross operated production for oil - & gas in Q3 decreased by 9 per cent versus the matching period in 2015, the
The effect of lower output and metal sales reflected in the Q3 combined revenue, which was flat at Rs 33,691 crore
Income was partially ahead of Bloombergs quotes for Q3, which was Rs 33,680 crore
A year earlier, the company had actually reported income of Rs 33,697 crore
Sequentially, Vedantas profits was down 7 per cent.
The companys earnings before interest, tax, devaluation, and amortisation (EBITDA) in Q3
was Rs 7,100 crore, down 35 percent compared to a year ago
It was down almost 12 per cent on a consecutive basis as the company fought with lower tactical hedging gains
Devaluation and amortisation charges likewise increased 4 percent compared to the July-September quarter to Rs 2,720 crore
This was because of a greater depletion charge in the companys oil and gas business
Vedanta reported an EBITDA margin of 24 percent in Q3 against 37 percent in 2015
It was 25 percent in the July-September quarter.
The businesss board on Friday also authorized its fourth interim dividend of Rs 12.50 per
equity share, totaling up to Rs 4,647 crore
The record date for this dividend payment is February 4, 2023
Including the most recent round, Vedanta has actually revealed a dividend of Rs 81 per share in FY23.
In a declaration, chief executive
officer (CEO) Sunil Duggal stated the company had authorized prepare for another 941 Mw renewable resource (RE) power under its group
captive RE power advancement programme.
The business had actually formerly announced sale of its international zinc possessions to
subsidiary Hindustan Zinc for a money consideration of nearly $3 billion
This undergoes investor and other approvals.
On Friday, Vedantas shares closed on the BSE at Rs 319.85 a piece, down 1.96 per cent versus
During the last one year, the stock has actually fallen by 2.39 per cent even as the BSE Sensex has actually increased by 3.58 per cent.
