Vedanta Q2 Results: Oil & Gas, Aluminum Help Profit Meet Estimates
Vedanta’s net profit rose 9% sequentially to Rs 4,615 crore in the July-September period.
Vedanta Ltd.’s quarterly profit rose in line with estimates, aided by oil and gas and aluminium business.
Net profit of the billionaire Anil Agarwal-controlled miner rose 9% sequentially to Rs 4,615 crore in the July-September period, according to its exchange filing. That compares with the Rs 4,503.8-crore consensus estimate of analysts tracked by Bloomberg.
Net sales were up 7% at Rs 30,401 crore, against the Rs 28,396.8-crore forecast.
Vedanta’s operating profit rose 4.98% sequentially to Rs 10,363 crore, compared with the estimated Rs 10,525.1 crore. The growth was partially offset by lower sales volume of zinc and iron ore.
Segment-Wise Ebitda (QoQ)
Zinc India registered 6.5% decline to Rs 3,281 crore.
Zinc international fell 25.4% to Rs 299 crore.
Oil and gas unit witnessed a 30% increase to Rs 1,384 crore.
Aluminium arm clocked a 28.5% rise to Rs 3,537 crore.
Power division’s operating profit stood at Rs 264 crore, down 24%.
Iron ore segment declined 26.4% to Rs 559 crore.
Steel division witnessed a decline of 68.3% at Rs 71 crore.
Copper India registered an operating loss of Rs 38 crore versus a Rs 106-crore operating loss in the preceding quarter.
Shares of Vedanta closed 1.01% higher before the results were announced compared with a 1.04% decline in the benchmark Nifty 50.