Vedanta Q3 PAT rises 26% YoY to Rs 4,164 cr

29 Jan 2022 , 11:59 AM

Profit before tax (PBT) jumped 44% to Rs 7,792 crore in Q3 FY2022 from Rs 5,410 crore in Q3 FY2021. Attributable Profit after Tax (PAT) fell 10% Q-o-Q.

The companys Y-o-Y revenue growth was supported by improved commodity prices and higher sales volume across businesses, partially offset by lower sales volume at Zinc International and Iron & Steel business.

Revenue for Q3 FY2022 was higher by 12% Q-o-Q, supported by improved commodity prices and higher sales volume across businesses, partially offset by lower sales volume at Zinc International and Oil & gas business.

EBITDA for Q3 FY2022 was at Rs 10,938 crore, higher by 42% Y-o-Y, primarily supported by improved commodity prices. This was partially offset higher Cost of production impacted by input commodity inflation.

EBITDA for Q3 FY2022 was higher by 3% Q-o-Q, primarily supported by improved commodity prices and higher sales volume across businesses, partially offset by higher Cost of production impacted by input commodity inflation.

The company reported a EBITDA margin of 37% during the quarter compared to 39% in Q3 FY2021 and 40% in Q2 FY2022.

The company has cash and cash equivalents of Rs 25,207 crore. Net debt was at Rs 27,576 crore on 31st December 2021, reduction of Rs 7,781 crore Y-o-Y, primarily driven by strong cash flow from operations and repayment of inter-company loan from Vedanta Resources, offset by capex and dividend payment.

Sunil Duggal, chief executive officer, said ?We have entered into number of partnerships to bring best-in-class expertise and also strengthen our commitment to transforming the communities and the workplace.

We delivered another strong quarter, with sustained margins benefitting from operational efficiencies and high commodity prices despite input commodity headwinds. Overall, we have had a very good 9-months run with highest ever 9M production across almost all of our businesses. Q3 played a big part in it with highest ever quarterly production from HZL, Aluminium & ESL.

The board has approved second interim dividend of Rs 13.50 per equity share for the year ended 31 March 2022.

Vedanta, a subsidiary of Vedanta Resources, is one of the worlds leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.

Shares of Vedanta fell 0.18% to Rs 327.70 on Friday, 28 January 2022.

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