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Vedanta Q1 results: Here are the key highlights

First quarter EBITDA increased by by 47 percent YoY to Rs 10,275 crore. Net debt- to EBITDA ratio unchanged from Q4 at 1.5x. .

August 06, 2024 / 15:33 IST
FILE PHOTO: A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai
     
     
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    Billionaire Anil Agarwal's Vedanta Ltd on August 6 reported 36.5 percent increase in consolidated net profit at Rs 3,606 crore for the quarter ended June 30, 2024, against Rs 2,640 crore in the year-ago period.

    Here are the key highlights of the first quarter results:

    Q1 performance:

    • Consolidated net profit rose 36.5 percent to Rs 3,606 crore for the quarter vs Rs 2,640 crore in the year-ago period.
    • Revenue from operations rose 5.6 percent to Rs 35,239 crore as against Rs 33,342 crore in Q1FY24
    • First quarter EBITDA increased by by 47 percent YoY to Rs 10,275 crore. Net debt- to EBITDA ratio unchanged from Q4 at 1.5x
    • EBITDA margin at 34 percent in the quarter, as against 24 percent in the same quarter last year.

    Segment results
    • Core earnings from the aluminium business rose to Rs 4,441 crore from Rs 1,817 crore in Q1FY24
    • Earnings from Zinc, silver and lead business rose 17.8 percent to Rs 3,903 crore.
    • Earnings from Oil and Gas segment fell 6 per cent to Rs 1,081 crore.
    • Iron and steel business posted a 12 per cent rise in EBITDA.
    • EBITDA loss for facor and copper segments widened to Rs 49 crore and Rs 57 crore, respectively.

    Debt and liquidity 
    • Net debt of Rs 61,324 crore as on 30th June 2024, up from Rs 56,338 crore as of March 31, 2024.
    • Net debt to EBITDA ratio is at 1.5x in 1QFY25, same as last quarter but down from 1.9x in 1QFY24.
    • Cash and cash equivalents position stood at Rs 16,692 crore, increased by Rs 1,271 crore QoQ.

    Management commentary 
    • "Vedanta has delivered a strong start to the year, with exceptional EBITDA improvement of 47% and PAT improvement by 54% year over year on the back of improved margins, and robust cost reduction across all operations"- Executive Director, Arun Misra
    • Our growth projects are well on track, and we remain committed to commission the majority of these projects in FY25 - Misra
    • "We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality”- CFO Ajay Goel
    Aishwarya Nair
    first published: Aug 6, 2024 03:33 pm

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