Vedanta Q3 Results: Profit Rises, Revenue At Seven-Quarter High
Vedanta Ltd.’s quarterly profit rose and revenue jumped to the highest in seven quarters, aided by rising commodity prices and higher other income.
Net profit of the Anil Agarwal-controlled mining conglomerate rose 40.5% year-on-year to Rs 3,299 crore in the quarter ended December, according to an exchange filing. That compares with the Rs 2,623-crore consensus estimate of analysts tracked by Bloomberg.
Revenue rose 6.5% year-on-year to Rs 22,735 crore—analysts had estimated Rs 22,533-crore. Growth in the top line was mainly on account of higher commodity prices and higher volumes at its zinc and iron ore businesses. That was, however, partially offset by lower volumes at its oil and gas subsidiary and lower sales in Talwandi Sabo Power Ltd.
Earnings before interest, tax, depreciation and amortisation rose 19% year-on-year to Rs 7,757 crore, compared with the Rs 7,179 crore estimate.