Vedanta Ltd Q2FY23 PAT falls -60.8% yoy at Rs1,808 crore as power and fuel costs nearly double in the quarter

29 Oct 2022 , 09:28 AM

Vedanta Ltd reported 20.57% growth in total revenues for the September 2022 quarter on consolidated basis at Rs36,654cr.

Revenue fell by -5.1% in sequential terms. In terms of verticals, the company saw positive growth across most of its mining and metal verticals.

Revenues from zinc, lead, silver saw revenue spike by 37% to Rs8,098 crore. Vedanta also reported higher revenues from oil & gas, aluminium, copper, iron ore and power.

Gross debt of the group increased to Rs58,597 crore in the quarter and its dividend yield stands at an impressive 15.4%. Volume growth was seen across aluminium, zinc and silver on yoy basis.

Consolidated Profit after tax (PAT) for September 2022 quarter was down -60.8% at Rs1,808 crore and it was down -59.1% on sequential basis.

In terms of EBITDA, the biggest impact was felt in the aluminium business were the EBITDA fell yoy from Rs4,647 crore to Rs761 crore and this entire fall was on account of sharply higher power costs.

In fact, power costs nearly doubled from Rs4,412 crore to Rs8,553 crore on yoy basis leading to fall in profits. Net profit margins at 4.93% in Q2FY23 is lower compared to 15.18% in Q1FY22 and 11.45% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Vedanta Ltd
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 36,654	₹ 30,401	20.57%	₹ 38,622	-5.10%
Net Profit (Rs cr)	₹ 1,808	₹ 4,615	-60.82%	₹ 4,421	-59.10%
Diluted EPS (Rs)	₹ 4.85	₹ 12.38		₹ 11.84
Net Margins	4.93%	15.18%		11.45%