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Vedanta's Profit Skyrockets 124% Beating Estimates
29 Jan
Summary
- Net profit surged 124% to Rs 7,807 crore, exceeding analyst expectations.
- Record revenue reached Rs 45,899 crore, driven by higher LME and volumes.
- Quarterly alumina and mined metal output hit new production records.
Vedanta Ltd. announced exceptional financial results for the third quarter of the current financial year, surpassing analyst expectations. Consolidated net profit saw a dramatic increase of 124%, reaching Rs 7,807 crore compared to Rs 3,479 crore in the previous quarter. This figure exceeded the projected Rs 5,582 crore by analysts.
The company's revenue also hit a record high of Rs 45,899 crore during the October-December period. This substantial growth was attributed to higher London Metal Exchange (LME) prices, increased volumes, premium pricing, and foreign exchange gains.
Operationally, Vedanta achieved record quarterly alumina production at 794 kilotonnes, a 57% year-on-year increase. Mined metal output also reached its highest for a third quarter at 276 kilotonnes. Significant production increases were noted in mined zinc, iron ore, and steel, contributing to the robust financial performance. Copper cathode production remained flat year-on-year but saw a 12% sequential improvement.
