Vedanta Q3 Profit Surges 76% to Rs 3,547 Crore

New Delhi, Jan 31 (PTI) Vedanta on Friday reported a 76.2 per cent rise in consolidated net profit at Rs 3,547 crore for the quarter ended December 31, 2024 due to higher income.

The company had posted profit of Rs 2,013 crore in the year-ago period, Vedanta Ltd said in a filing to BSE.

The company's consolidated income grew by 9.5 per cent to Rs 39,795 crore, over Rs 36,320 crore in the corresponding quarter of the previous fiscal.

Vedanta's consolidated revenue for the third quarter stood at "Rs 38,526 crore, up four per cent Q-o-Q and 10 per cent Y-o-Y driven by favourable market prices and higher premiums."

The total expenses of the company during the quarter grew to Rs 33,134 crore over Rs 32,215 crore in the year-ago period.

"We have delivered our highest-ever 3rd quarter EBITDA of Rs 11,284 crore. Our strategic focus on cost optimisation and production ramp-up across our key businesses has helped us to continue delivering this outperformance.

Notably, we witnessed a 58 per cent Y-o-Y jump in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) at our aluminium business and 28 per cent increase in our Zinc India business. We expect this outperformance to continue in the coming quarters driven by our ongoing growth initiatives and business integration projects," Vedanta Ltd Executive Director Arun Misra said.

The company's CFO Ajay Goel, said its demerger process is progressing well and the shareholders' and creditors' meeting is scheduled for the next month.

The company's gross debt stood at Rs 78,496 crore as on December 31, 2024.

Vedanta said that its parent company Vedanta Resources Ltd (VRL) successfully restructured 3.1 billion dollars through bond issuances in the last four months resulting in longer maturities of up to eight years.

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy and technology companies spanning across India, South Africa, Namibia, Liberia, UAE, Saudi Arabia, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate.