Vedanta Q3 Results: Profit Falls 10%, Missing Estimates
Vedanta Ltd.’s quarterly profit fell, missing estimates.
Net profit of the billionaire Anil Agarwal-controlled miner fell 10% sequentially to Rs 4,164 crore in the quarter ended December, according to its exchange filing. That compares with the Rs 4,831-crore consensus estimate of analysts tracked by Bloomberg.
Exceptional items for the period under consideration was Rs 37 crore, on account of an impairment at Vedanta's plant in Doswada, Gujarat.
Net sales rose 12% to Rs 34,097 crore, against the Rs 33,212-crore forecast.
Operating profit rose 3.6% sequentially to Rs 10,742 crore, compared with the estimated Rs 10,959.1 crore.
Operating performance was in line with estimates even as production costs rose 2% sequentially amid higher coal costs, as raw input inflation was partially offset by higher volumes and operational efficiencies.
Segment-Wise Ebitda (QoQ)
Zinc India registered 33.6% growth to Rs 4,384 crore.
Zinc international rose 22.7% to Rs 367 crore.
Oil and gas unit witnessed a 7.8% increase to Rs 1,492 crore.
Power division’s operating profit stood at Rs 283 crore, up 7.2%.
Iron ore segment declined 26.7% to Rs 410 crore.
Steel division witnessed a growth of 135% at Rs 167 crore.
Copper India registered an operating profit of Rs 14 crore versus a Rs 38-crore operating loss in the preceding quarter.